Unisame calls for increasing tax limit to Rs1,200,000

KARACHI: The Union of Small and Medium Enterprises (Unisame) has urged the policymakers that as per the Constitution, Pakistan is a welfare state and by virtue of this it is incumbent on the government to care and protect its senior citizens, the aged, the widows, the orphans, the disabled and the family of the martyrs by making their lives comfortable, a statement said.

Unisame President Zulfikar Thaver said that because of the super inflation it has become impossible for those with insufficient incomes to survive and they cannot eat one square meal a day.

The Unisame Council said that the tax exemption limit of Rs600,000 annual income is too little and needs to be revised to Rs1,200,000 as was exempted by Miftah Ismail during the time he was the financial adviser.

It was a decision based on equality and justice and it is unfair to subject citizens below the income of Rs1,200,000 to tax. The poverty line as admitted by the government is Rs 50,000/month.

Secondly, senior citizens above the age of 75 years, especially housewives and widows must be completely exempted from filing tax returns, as the income they receive from bank profits, investments and dividends is subject to withholding tax. Filing returns is very worrisome and bothersome for the aged people, it said.

The investment limit of Rs5 million for senior citizens, widows and martyrs’ families must be increased to Rs10 million to enable them live a comfortable life.

They need a reasonable income now as the prices of medicines and other items have increased due to high inflation.

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