NADEEM MALIK LIVE
TOPIC- BUDGET 2016-17
GUESTS- ASIM ZULFIQAR, HAROON AKHTER, SALEEM MANDUWALA, ARIF ALVI
ASIM ZULFIQAR ECONOMIST said that the government has suggested a new amendment in the budget to consider a trust just like a company in other country. He said that according to this suggestion as long the beneficiary owner will not receive any income from his offshore company he does not have to mention it.
He said that we need to improve our tax collection and widen the tax network. He said that the government has not introduced any reforms in the budget. He said that the government failed to bring non filers in the tax network.
HAROON AKHTER ADVISER TO FINANCE MINISTER said that Ishaq Dar has formed a committee that will deeply consider the amendment suggested in the budget. He said that the new amendment will more clearly define the definition of the trust.
He said that the government has collected highest amount in taxes this year in the history of Pakistan. He said that the number of non filers coming into the tax network is increasing gradually every year.
SALEEM MANDUWALA OF PPPP said that it not a new thing that the government introduce an amendment in the budget if it has to. He said that why the government did not suggested this amendment last year or year before it. He said that the thing the government does not like to tell is put in the finance bill.
He said that he does not believe that the issue of Panama Leaks can be suppressed. He said that the people are withdrawing their money from the banks and cash economy is on the increase. He said that the government is printing billions of rupees currency every year.
ARIF ALVI OF PTI said that even if the beneficiary of the trust income is not disclosed still the owner’s name has to be mentioned. He said that he believes that the suggestion of the amendment in the budget has connection with Panama Leaks.
He said that instead of the taxing the income of the builders the government is going to charge them per square foot rate. He said that the builders will include their tax in the price and will charge from the buyers. He said that he was unaware that the government has suggested any amendment in the budget.