Addressing a function at the Chambers of Commerce, Finance Advisor Shaukat Tareen said that 60 per cent of the country’s population is under 30 years of age. Of these, 200,000 were eligible.
He said that they are focusing on the development of small and medium scale industries. If the successful youth program is used properly, there will be development in Pakistan.
The finance adviser said that Pakistan was the fourth largest economic power in the sixties. The economic power has to be restored and the dependence on international institutions has to be eliminated. No development can be achieved without taxes. Don’t forget to pay taxes.
We have all the bills, bank accounts, vehicles, travel information, accommodation, etc. Now we will use Artificial Intelligence to estimate the income and send the tax bill.
It is a self-assessment. Fill in your own returns. No one will bother you. If there is any disagreement, there will be a third party audit. FBR will not do the audit either.
Shaukat Tareen said that only two taxes, income tax and GST, would be applicable in the next two years and all other withholding tax turnover tax would be abolished in the next two to three years.
Another initiative of the Successful Pakistan Program is to provide interest free agricultural and business loans which have been started for the betterment of about 4 million downtrodden families.
Usman Dar, Special Assistant to the Prime Minister on Youth Affairs, said that Rs. 30 billion has been distributed among the youth under the Successful Youth Program and the remaining Rs. 70 billion will be distributed up to Rs.
