The International Monetary Fund (IMF) has proposed taxing the upper middle class and wealthy individuals with monthly incomes ranging from Rs104,000 to Rs1 million at a uniform rate of 30%.
The idea shows inequity in taxation, and if approved, it may leave the majority of salaried workers worse off in the face of double-digit inflation.
The idea also appears to be unreasonable because it compares a person earning Rs100,000 to someone with ten times more income who can afford to pay 30%, or Rs300,000, in taxes every month.
