Tax Returns: Businessmen reject CNIC condition

Businessmen say textile sector is teetering on the brink due to high input costs and increase in energy, fuel prices.


Shamsul Islam September 17, 2011

FAISALABAD:


Industrialists and businessmen have rejected amendments in tax returns, which made it mandatory for registered taxpayers to provide national tax number (NTN) or computerised national identity card (CNIC) number of unregistered traders who deal with them.


In a meeting held at the Faisalabad Chamber of Commerce and Industry on Saturday, industrialists and businessmen said the textile sector was already teetering on the brink of collapse due to high input cost and continuous increase in energy and fuel prices. They said the government had declared the federal budget for 2011-12 free from tax but soon after its announcement, mini-budgets were announced, pushing the industrial sector to the wall.





Published in The Express Tribune, September 18th, 2011.

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COMMENTS (3)

Sheeraz Khan | 9 years ago | Reply

The conditions put my FBR are almost always undeniably helpful for economic health of the nation, and truly, undeniably poisonous for tax-evading elites of Pakistan.

abdussamad | 9 years ago | Reply

You can't even open a bank account unless you fulfill these conditions. Not just CNIC but proof of income documentation in order to deposit your money into a bank account. And then they complain that the savings rate is too low. Don't they know the vast majority of the population works in the informal sector??

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