Islamabad: Khalid Iqbal Malik, President, Islamabad Chamber of Commerce and Industry (ICCI) has called upon the government to consider one tax one nation regime by introducing a single national sales tax that would help in streamlining tax system and improving tax revenue of the country.
He said that under the current sales tax regime, businesses have to pay multiple sales tax i.e. at federal and provincial levels due to which the cost of doing business has gone up. He said the introduction of a single national sales tax structure would bring multiple benefits to the economy as it would improve the ease of doing business, make Pakistan an integrated economy and facilitate the seamless transfer of goods and services across the country.
Khalid Malik, Senior Vice President, Islamabad Chamber of Commerce and Industry said that the prime benefit of one tax structure is that Pakistan would become a common market as one product or service will have a single tax rate in any part of the country instead of multiplicity of taxes on the same commodity or service in various parts of the country. It would also create a level playing field for local companies in export markets.
Trending
- Rallies hold in Rawalakot under the auspices of labor organizations and student organizations on IMD
- ILO and the Government of KP celebrate Labour Day
- NPC demands immediate measures for laborer’s welfare
- Laborers’ role in the development of the society is praiseworthy: Ali Raza Syed
- Islamabad Model School for Girls G-9/4, holds Elections for SMC
- EU Ambassador Dr. Riina Kionka Witnesses European Union’s Relief & Climate Resilience Initiatives in Flood-Hit Dadu, Sindh
- UNICEF unveils new vision to protect and empower adolescent girls in Pakistan
- 969 MW-Neelum Jhelum Plant Shutdown for Physical Inspection of 48 Km-Long Head Race Tunnel