Traders urge IMC to withdraw hike in taxes

ICCI president calls enhanced taxes unjustified, unacceptable to business community

ISLAMABAD: Traders in the federal capital on Wednesday opposed a proposed massive hike in local taxes without following the due legal process.

Addressing a joint meeting of the Islamabad Chamber of Commerce and Industry (ICCI) and the Capital Development Authority (CDA) on Wednesday, the ICCI President Ahmed Waheed said that the Islamabad Metropolitan Corporation (IMC) had proposed a massive hike in taxes from Rs20,000 to Rs300,000 on businesses.

He called these enhanced taxes unjustified and called for immediately withdrawing this proposal as it was not acceptable to the business community.

Waheed added that before increasing civic taxes, the proposal is supposed to be advertised while a public hearing is arranged, but the IMC proposed a massive hike in taxes without following this legal procedure. Hence, he said that the proposal should be withdrawn immediately to save businesses from further problems.

He added that trade licences are issued for edibles, but the IMC has issued licenses to all businesses, which was unjustified and should be withdrawn. The ICCI president pointed to the importance of the Kahuta Industrial Triangle which is playing its role in promoting exports. However, he complained that CDA has totally ignored this industrial estate due to which industrialists were facing problems.

He urged that CDA focus on developing the Kahuta industrial area and help industry flourish there.  

Published in The Express Tribune, February 20^th, 2020.