Taxable income limit should be increased by 100pc: Zahid Hussain.

Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on April 28 said the limit of taxable income should be increased by at least one hundred percent.

Inflation is at 35 percent while food inflation has hit the mark of 47 percent therefore taxable income should be increased from one hundred thousand rupees to two hundred thousand rupees, he said.

Expanses of people have increased many folds, inflation and currency erosion has become uncontrollable, therefore limit of taxable income should be increased, he added.

Mian Zahid Hussain said that the salaried class plays a very important role in the country's economy, but now the same class is currently suffering due to inflation, which should be given some relief.

Talking to the business community, the veteran business leader said that there are lobbies to protect the interests of traders, industrialists, producers and farmers, but there is no voice for the salaried class that pay a lot of direct taxes.

Mian Zahid Hussain said that in a country where no one likes to pay taxes, heavy taxes are being collected from the salaried class, while some salaried people are being taxed up to thirty-five percent.

Professionals are taxed at 25 to 30 percent, while if general sales...