For a government, taxation is a primary way to generate revenue. However, in Pakistan, the revenue that is generated from taxes is too narrow and barely covers government’s expenditures. As a result, budget deficit is a given in every fiscal year. Many people who are involved in home-based businesses do not pay taxes, depriving the government of a possible source of revenue.
Pakistan has been facing many economic challenges for many years now. The external debt is growing at an unprecedented pace. To overcome these challenges, the tax network should be widened and brought to such an extent so that the government is at least able to meet its expenditures. If taxes are paid in an effective manner, Pakistan will have no issue in tackling its problems.
Rafaqat Ullah Rahmat
Lakki Marwat
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