LAHORE: With the government finalising the details of next year’s budget, the Overseas Investors Chamber of Commerce and Industry (OICCI) has, in a last-minute call, demanded that the fiscal authorities provide substantial relief to the salaried class and the corporate sector, which are groaning under crushing taxes — both direct and indirect.

In a Zoom interview with Dawn, OICCI Chief Executive M. Abdul Aleem described the country’s current tax structure as inequitable and unjust, and in urgent need of sweeping reforms aimed at broadening the tax base.

“Both the salaried individuals and the compliant corporate sector have borne a disproportionate share of tax burden for far too long. It is compelling the talent to leave Pakistan while putting a huge drag on investment, export and economic growth,” he argued.

“Enough is enough; this cannot go on any longer. Something’s got to give. With its expenditure, particularly on defence, rising, the nation’s tax structure would have to be overhauled and the base of taxes increased to offload pressure on the compliant existing taxpayers if the state of Pakistan is to survive.”

Demands bringing real estate, retail, agriculture, professionals in tax........

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