FCCI urges business community for taxation

0
29 views

Mian Rashid Asghar
FAISALABAD. Different taxes, duties and levies collected at the Federal, Provincial and local levels may be clubbed into a single tax to ensure ease of paying taxes by the business community, said Mr. Atif Munir Sheikh President Faisalabad Chamber of Commerce & Industry (FCCI).

He appreciated the Government’s initiative to launch Pakistan Single Window to facilitate the local and foreign investors intending to set up new industrial units in Pakistan. He said that though this facility is not yet fully operational but it is a positive step which would ultimately give much needed relief to the investors as more than 20 NOCs and other permissions are being accorded under PSW. He said that on the same pattern taxes should also be clubbed to facilitate the business people. “This will help them to discharge their tax liability at one place instead of visiting different offices at different times”, he said and added that these measures must be finalized immediately so that these could be incorporated in the upcoming budget of 2022-23. He also expressed concern over the unjustified system of taxation which was widening the gap between the rich and poor. “In order to minimize this gap, the government must increase the volume of direct taxes instead of depending on indirect taxes”, he said and demanded that tax exemptions should also be discouraged through a uniform taxation system. He said that under the prevailing system, sales tax is collected from everyone without considering their eligibility. He also demanded immediate privatization of the loss-making government entities so that a hefty amount spent on these units every year could be saved and used for the welfare of the public.