Industries baulk at tax notices from local govt

ISLAMABAD:

Industries in Islamabad, already bemoaning losses due to months-long closure caused by Covid-19 lockdown earlier this year have expressed concern over receiving professional tax notices by the local government.

The Islamabad Chamber of Commerce and Industry (ICCI) on Tuesday urged the government to withdraw professional tax notices to businesses in order for trade and investment opportunities to flourish in the country.

ICCI Acting President Fatima Azim said that Union Council Humak has issued professional tax notices of Rs50,000 each to some industries in Kahuta Industrial Triangle, creating concerns in the business community.

She said that due to novel coronavirus (COVID-19) pandemic, business activities were already suffering, adding that imposing professional tax on the businesses would create more difficulties for the economy.

Reviewing the current situation, Azim urged that the government should focus on providing tax relief to the business community instead of imposing new taxes to revive business activities and improve the economy.

The acting president lamented that to combat the impact of COVID-19, governments around the world had provided various relief packages for their business communities, but in Pakistan, new taxes were being imposed. It would discourage new investment in the country, she added.

Published in The Express Tribune, December 30^th, 2020.