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this post was submitted on 03 Aug 2023
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Karachi still largely relies on paper money rather than cashless transactions (I live in the UK and hardly ever carry cash on me). So it wouldn't surprise me if businesses are underreporting their revenue so they can avoid paying taxes. If a business insists on cash in the UK, there's a good chance they're underreporting their revenue.
This is 100% the case. I also don't like to carry cash but the amount of business, even the ones you'd expect to be well integrated with basic payment technologies, will try their best to discourage electronic payments. It is honestly very disheartening.
You know processing electronic payments cost businesses money? I'd encourage cash too, even with perfect reporting.
First of all, the businesses I'm talking about are already pushing the 2% fee on to the customer if you pay via card. Secondly, they throw tantrums even if you ask them to make a bank transfer instead. It's funny when a small corner store is more willing to accept electronic payments than a multistory electronics market. Lastly, all these tax evading mfers get 0 sympathy from me. For all its faults, the government has launched multiple drives to bring these aholes under tax net by offering them ridiculous incentives yet they refuse to, facing 0 reprecussions, while people like me, the salaried, are getting raw-dogged by everyone.