Robbing the ordinary people via GST
Monday, July 20, 2009
The News International, Pakistan, Monday, July 20, 2009
ISLAMABAD: The government’s oil pricing formula is fraught with glaring anomalies, which would result in literally robbing the ordinary people of their money.
The first anomaly is that instead of levying the 16 per cent GST on the basic import landing cost, the government is imposing the GST after first loading up all other charges, including the Inland Freight Equalisation Margin (IEFM), oil marking companies’ (OMCs) margins, dealers’ commission margins and huge petroleum levy. This has been done deliberately to beef up the revenue intake through an inflated GST.
More
ISLAMABAD: The government’s oil pricing formula is fraught with glaring anomalies, which would result in literally robbing the ordinary people of their money.
The first anomaly is that instead of levying the 16 per cent GST on the basic import landing cost, the government is imposing the GST after first loading up all other charges, including the Inland Freight Equalisation Margin (IEFM), oil marking companies’ (OMCs) margins, dealers’ commission margins and huge petroleum levy. This has been done deliberately to beef up the revenue intake through an inflated GST.
More
posted @ 11:45 AM,
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