LCCI asks for tax-free budget
Move will encourage people to come into tax net voluntarily
PHOTO: REUTERS
LAHORE:
The Lahore Chamber of Commerce and Industry (LCCI) Acting President Amjad Ali Jawa said on Friday that the upcoming federal budget should be tax-free in order to enhance trade and economic activities across the country.
In a statement, Jawa said the country's policy-makers should listen to the voice of business community since a tax-free budget would help expand the tax net and encourage people to come into the net voluntarily.
"Increasing tax revenues and decreasing number of tax filers is ample proof that the Federal Board of Revenue is putting additional burden on the existing taxpayers," he said. "Similarly, the share of industry in tax collection is around 76% that is hitting its competitive edge and affecting exports."
The LCCI acting president also said that in Bangladesh energy supply to the trade and industry was a top priority, that was why their exports were far ahead of many countries in the world.
"Our government should re-fix its priority list as far as energy availability to the trade and industry is concerned," he said. "To tackle the energy shortage, the government has to allocate maximum funds for the construction of dams."
He added the country's reliance on costly thermal power was jacking up the cost of production and the import bill as well. He requested the government to urgently shift to hydroelectric power and alternative energy resources.
Published in The Express Tribune, May 20th, 2017.
The Lahore Chamber of Commerce and Industry (LCCI) Acting President Amjad Ali Jawa said on Friday that the upcoming federal budget should be tax-free in order to enhance trade and economic activities across the country.
In a statement, Jawa said the country's policy-makers should listen to the voice of business community since a tax-free budget would help expand the tax net and encourage people to come into the net voluntarily.
"Increasing tax revenues and decreasing number of tax filers is ample proof that the Federal Board of Revenue is putting additional burden on the existing taxpayers," he said. "Similarly, the share of industry in tax collection is around 76% that is hitting its competitive edge and affecting exports."
The LCCI acting president also said that in Bangladesh energy supply to the trade and industry was a top priority, that was why their exports were far ahead of many countries in the world.
"Our government should re-fix its priority list as far as energy availability to the trade and industry is concerned," he said. "To tackle the energy shortage, the government has to allocate maximum funds for the construction of dams."
He added the country's reliance on costly thermal power was jacking up the cost of production and the import bill as well. He requested the government to urgently shift to hydroelectric power and alternative energy resources.
Published in The Express Tribune, May 20th, 2017.