FCCI lays down roadmap for betterment

Complete overhaul of taxation system needed, says chamber chief

FAISALABAD: Faisalabad Chamber of Commerce and Industry (FCCI) has started negotiations with government departments to resolve six major problems that were identified by the business and trade community of the city during a joint meeting held earlier this month, said FCCI President Chaudhary Muhammad Nawaz on Tuesday.

Nawaz said that he would focus on the resolution of tax-related problems in addition to energy crisis, refund cases, provision of gas during coming winter season. He said that business and trade community of Faisalabad was in complete agreement that these problems should be resolved on a priority basis.

Replying to a question about withholding tax on bank transactions, FCCI president said the rate of withholding tax is not the issue.

“The real problem is the trust deficit between the business community and government departments,” said Nawaz. “People are reluctant to enter the tax net as they fear that they will be squeezed off.

Published in The Express Tribune, October 14^th, 2015.

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