While
the sector remains lucrative, it has been cited as a factor in widening
the wealth gap and perhaps, inadvertently promoting some form of
underhand dealings, be it tax evasion, money laundering, or outright
fraud. Reports suggest that in Pakistan around 16% of the population
accounts for 55% of the wealth, whereas around 72% of the population
accounts for 1% of the wealth. Tax evasion remains a significant
obstacle, with one recent report claiming that a mere 1% of the Pakistan
population are registered active taxpayers. As a result the government
has in a way been forced to concentrate on increasing the burden of
indirect taxes to increase the tax revenue.
Read Complete Article: Economic Growth or Corruption Control ConundrumsSunday 12 February 2017
Economic Growth or Corruption Control Conundrums
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