Business

Include more sectors: Don’t burden existing taxpayers, says ICCI

The business community contented that the heavy reliance on withholding tax was not the right approach

Our Correspondent November 25, 2015

The business community contented that the heavy reliance on withholding tax was not the right approach. PHOTO: FILE

ISLAMABAD:

The business community in the federal capital has warned the government of severe consequences if it fails to include more sectors in the tax net and continues to burden existing filers.

The local business community gathered in a meeting at the Islamabad Chamber of Commerce and Industry (ICCI) and cautioned the government to avoid additional taxes, since such measures would adversely affect the economy.

ICCI President Atif Ikram Sheikh, Senior Vice President Sheikh Pervez Ahmed and Vice President Sheikh Abdul Waheed said that the government was reportedly planning to announce new tax measures to meet the tax target set for the year 2015-16.

However, they stressed that preference should be given to bring untaxed sectors into the tax net instead of putting more burden on existing taxpayers. The business community contented that the heavy reliance on withholding tax was not the right approach.

Published in The Express Tribune, November 26^th, 2015.

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