Opposition: Industry against imposing wealth tax

ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has suggested to the government not to impose wealth tax in the upcoming budget.

Speaking to the business community on Monday, FPCCI Vice President Khalid Tawab said: “The government should shelve plans to impose wealth tax which is unjustified in current circumstances.”

He believed that income which had already been taxed, should not be taxed again and urged the government not to impose the fixed tax on small businesses.  FPCCI Chairman Coordination Raza Khan said solution to increasing unemployment lies in industrialisation, adding that the business community was ready to play its role.

Published in The Express Tribune, May 31^st, 2011.