Mubarak Village

Tax genius
In a country like Pakistan, where the undocumented economy is at least three times the size of the documented one, the government should be giving incentives to use formal banking channels to encourage people to shun cash transactions and informal channels. Thanks to the genius of Ishaq Dar now our businessmen and individuals, who have no love lost for formal banking, are less likely to use banks. This would only encourage cash and informal transactions further.
The government is not likely to gain anything out of this because only those people already paying taxes would be using banks now and hence would get refunds. Others will now have one more reason to shun formal banking channels for traditional informal ones to evade taxes in general and this ridiculous advance tax in particular.
Usman Raja
Rawalpindi