Domestic resource mobilization in Pakistan : selected issues
Jetha, Nizar | Akhtar, Shamshad | Rao, Govinda
The emphasis of this paper, which is confined to federal taxes, is on tax reform with a view to raising additional revenues and encouraging household and business savings in Pakistan. Taxation is related to the three main components of saving - public, personal, and business savings, and policies to stimulate national saving are more likely to succeed if aimed at all three. Policies must also take account of interrelationships among different forms of saving. In particular, effects of taxes on personal and corporate savings need to be considered. In order to improve the overall climate for private saving as well as incentives for investment, suitable savings instruments and a tax structure that is conducive to company saving are critical. In addition, tax policy should be supplemented by appropriate policies on user charges, subsidies, and self-financing by public enterprises. Agricultural income and domestically produced goods are two main areas that have been inadequately tapped as yet. Proposed changes in the sales tax, excise duties, taxation of petroleum products, agricultural taxation, and tax treatment of perquisites, as well as import liberalization can be expected to have a significant effect on revenues.
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