This simply means that the economic mangers of the government, who held talks with an IMF team in Dubai and briefed them on the salient features of the next budget, have tried to fool the masses, urban-based political players and business tycoons by leaking the false information that the RGST
had been shelved, The News reports.
In order to understand the possible challenges and opportunities that could be encountered while implementing RGST
let us go back in history and remind ourselves that the transition from sales tax (ST) to GST in early 1990s was not smooth and trouble-free and we should not expect anything different when progressing from GST to RGST
In an address to a public gathering in the city of Sheikhupura in Punjab province, the former prime minister said RGST
would put an unbearable burden on the masses already groaning under high inflation.
Yes, the International Monetary Fund has agreed with Pakistan to not introduce the Reformed General Sales Tax, and now we will adopt Plan-B in which all tax exemptions will be eliminated in the annual budget 2011-2012, and this plan is more feasible than the RGST
," The Nation quoted a Pakistan Finance Ministry official, as saying.
Having given you our position that we support RGST
implementation let me share with you some of the concerns that we have.
Khan, a prominent economist, says the RGST
was facing stiff opposition because of misconception that it is highly inflationary, will increase the tax burden of poor consumers, and that it is a recipe for destroying businesses and trade in Pakistan.
The organization will send its mission to Pakistan only after witnessing concrete progress on the RGST
and the abolishment of power and POL subsidies, so the revival of the Fund programme depends upon taking revenue measures and pursuing reforms.
PPP sources did not rule out the possibility of RGST
issue being taken up by either side on the first contact after a pause stretching over months.
She lauded the role of RCCI for betterment of the business activities in the region and ensured the all the participants that any decision regarding RGST
is now in the parliament hands and the concerns of the business community will be conveyed to the legislators.
Earlier during the seminar Fauzia Wahab said that Kerry Lugar Bill and RGST
came to Pakistan for the first time .
ISLAMABAD, January 31, 2011 (Balochistan Times): International Monetary Funds delegation, which is currently visiting to Pakistan, will hold dialogues with PML-N regarding the implementation of RGST
They said that Government, should keep an eye on such elements and take steps for the passage of the RGST
Bill from the parliament for the economic sovereignty of the country.