Expanding Tax Net: LCCI urges widening tax base

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) on Tuesday urged the government to bring all untaxed sectors into the tax net and ensure some relief to existing tax payers faced with various internal and external challenges. LCCI President Sheikh Muhammad Arshad made this demand while talking to a trade delegation. He said that the agriculture sector, with a share of 21% in GDP, contributes hardly around 6% towards tax revenue, urging that the government should take business community on board for any tax-related policy. Arshad said that globally, income is taxed whether it is earned from industry, imports, exports agriculture, trading or services but in Pakistan, more taxes are focused on sector-specific and already taxed traders. Lahore Chamber, he said, has taken up the issue of withholding tax on banking transactions with the government and would continue to struggle till its amicable solution.

Published in The Express Tribune, November 25^th, 2015.

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