Budget Conflicts: Govt urged to withdraw withholding tax

LCCI president urges government not to pass the federal budget till necessary amendments are made

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) President Malik Tahir Javaid has urged the National Assembly not to pass the federal budget 2018-19 until necessary amendments are made. In a statement, he said obstacles in the way of the business community like withholding tax on banking transactions should not be part of the budget as they would nullify the good initiatives. The LCCI president said the withholding tax on banking transactions was “extortion” and was being collected forcefully without keeping in view the agony of the business community. “The budget is to be presented to the National Assembly for debate and approval; it is a chance for members of the National Assembly to remove withholding tax,” he emphasised.

Published in The Express Tribune, May 2^nd, 2018.

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