KARACHI: A simple and steady tax return submission system, announced for Islamabad, should be extended to the entire country, said Korangi Association of Trade and Industry (KATI) President Danish Khan, according to a statement released by the association.
Khan said the government should announce a special development package for Karachi, where the industry was facing severe infrastructural issues. He welcomed the measures announced by the government to reduce income tax on bank loans for small and medium enterprises (SMEs) and the agriculture sector, and the withdrawal of withholding tax on bank transactions for filers of tax returns.
KATI Patron-in-Chief SM Muneer said the announced measures for promoting industrial production, exports and investments in the country reinforced confidence of the business community. He also appreciated the announcement of issuing promissory notes to the exporters in order to resolve the liquidity issue due to delay in release of tax refunds.
Published in The Express Tribune, January 25th, 2019.
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