Pakistan Among World's Top 10 Tax Losing Countries
Top 10 Tax Losers:
The top 10 countries losing the most tax revenue in absolute terms as listed by the World Economic Forum are USA ($188.8 billion), China ($66.8 billion), Japan ($46.1 billion), India ($41.2 billion), Argentina ($21.4 billion), France ($19.8 billion), Germany ($15 billion), Pakistan ($10.4 billion), Indonesia ($6.5 billion) and the Philippines ($6.4 billion).
Pakistan and Argentina top this list of 10 in terms of tax revenue lost as percentage of GDP. Both lose 3.5% of their GDP in corporate tax avoidance, according to World Economic Forum.
Tax Evasion at the Top:
Tax evasion in Pakistan starts at the top. A large number politicians, including ministers and party leaders in the nation's parliament, do not bother to file tax returns or pay taxes.
A study by the Center for Investigative Reporting in Pakistan (CIRP) identified 461 members in national and provincial assemblies who did not pay income taxes in 2015. This figure includes ministers and other prominent political leaders. Federal Board of Revenue found that many of the 550 lawmakers (54%) falsely claimed they paid taxes.
Whatever little accountability that exists is now being eroded by Elections Act 2017.
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