Tax to be levied in Gilgit Baltistan
Gilgit—The government of Gilgit Baltistan has decided to impose income tax in the region despite the popular urge of ‘No rights, no tax’ assertion that,time and again, echoed in the mountains of GB.
That voice now seems to be overlooked and lost, as the tax collection will start soon. The administration now has unveiled the slab rates for taxation purposes.
All the residents of GB will have to pay taxes, including government servants, whose annual income exceeds Rs. 400,000. Annual disposable income that is more than 400,000 but less than Rs.750, 000 will be taxed by 10 percent.For those whose income exceeds Rs.750000 but does not exceed Rs.1500000, will be taxed by 15 percent.
Twenty percent tax will be collected from residents whose income exceeds Rs.1500000 but is less than Rs.2500000.The rate of tax will be 25% for the people who annually earn above Rs.2500000.
Eighty thousand people will be brought in the tax net and GB government will get approximately Rs. 4 billion as tax revenue.
The tax amount will be deposited in the GB council's account. It is said to be spent through GB government for the development of the region.
There was no immediate reaction shown, however, people believe that without constitutional rights and legitimate government mechanism, the tax imposition is yet another tactic to rip off masses. There was no plan, whatsoever, announced for tax credit or tax benefits that the tax-paying masses might entertain.