New taxes through mini-budget criticized
KARACHI: Berkshire Law Associates have criticized the PTI government’s plan to impose yet another taxation regime through the mini-budget. Chief Consultant at Berkshire Law Associates Anwer Iqbal said instead of putting additional burden of taxes on the masses, it would be better to review Customs tariff. There are so many items, which have been banned for commercial importers, but still these goods are importable by industries. However, these goods are imported by bogus manufacturing concerns and then these goods are supplied in the market causing revenue loss to the national exchequer. Iqbal said that lifting ban on import of goods such as fabric, pharmaceutical raw material, betel nut, spices, chemicals etc. would discourage smuggling and add to the revenue collection. He said that they could assist the government in framing policies that could help streamline trade and increase government revenue.