One of the impacts of inflation has been a significant decrease in consumers’ purchasing power. Currently, salaries are much lower; after taxation, the remaining amount is meagre. As a representative body, the multinational corporations (MNCs) in Pakistan have rightly called for a revision of the existing tax salary structure.

The Overseas Investors Chamber of Commerce and Industry (OICCI) has made other recommendations for the upcoming budget, such as bringing other service providers into the tax net to expand the tax base. Furthermore, they suggest including agricultural income within the federal government’s jurisdiction. This demand is of great importance, as including this sector would ensure fair and transparent tax collection. This has been missing in the sector.more