Agri, wealth taxes can
fulfil budget needs
05, 2012: LAHORE – The revenue collection through wealth tax
had reached over Rs40 billion 10 years ago when it was
suspended by Musharraf regime to protect elite class. If
this tax is reimposed, the FBR can collect over Rs 1.5
trillion, said Federal Revenue Alliance Employees Union
central president Mian Abdul Qayyum.
Talking to our correspondent, he said that the tax
department can generate revenue equal to the total volume of
federal budget through imposition of wealth tax and
implementation of agri tax, which were debated much but
He stated that only salaried people are paying taxes and
government is constantly putting more burdens on them due to
flaws in existing tax system. He added that a number of
landowners in parliament have consistently been rejecting
agri tax, but now time has come to change this attitude, he
The FBR Union central president said that Pakistan is a
country that desperately needs revenue. Many of the problems
we face today stem from this. It is right time to widen tax
net. Apart from agri-tax, it must also be ensured that
industrialists and others with sizeable assets do not escape
tax net, he underlined.
He stressed that homework for the imposition of levy on
wealth should be completed before forthcoming budget.
He said that if agriculture sector is brought into tax net
along with wealth tax, there will be no need to approach WB,
IMF or any other donor country. As landowners among richest
people of Pakistan, it is an irony that they have, for
decades, remained outside tax net, he said.
He suggested government to declare agriculture as an
industry so that farmers can also be brought into tax net.
He recommended the govt to declare the national identity
card of every citizen as an NTN. Through this, number of
taxpayers will automatically reach over 10 million.
He proposed the government to declare amnesty for black
money after imposing 2 to 3 percent tax on it as due to BTB
the account holders are withdrawing their black money from
banks. Following the amnesty, the govt can generate
trillions of rupees while banks business will also flourish
as money will start to return from foreign accounts, he
He also suggested the govt to give back FBR its autonomous
status as was announced in 2007 act. He informed that FBR
Foundation has been registered with Welfare Department on
the longstanding demand of the union. Under this foundation,
the employees will avail housing, health and education
Courtesy: The NATION