Islamabad: Islamabad Women’s Chamber of Commerce and Industry (IWCCI) on Saturday lauded the recently announced tax amnesty scheme saying that it will reduce the burden on the poor and the salaried class.
However, it said, the FBR would have to work harder to meet the targets for which business community should not be harassed.
Now the government should focus on the upcoming budget which should be business friendly and pro-growth, said Samina Fazil, founder President, IWCCI.
She said that economic issues should be preferred over political matters in the budget while influential lobbies should be discouraged which have initiated efforts to get unjustified benefits.
Samina Fazil said that increasing imports and decreasing exports have taken a toll on the economy pushing up the deficit to the unprecedented levels calling for immediate reforms which should not be ignored.
The withholding tax on bank transactions has not gone down with the business community, therefore, it should be abolished or reduced to stop expansion in the black economy and bail out banks from the liquidity crunch, she demanded.
She said that limit of WHT on bank transaction can be increased from fifty thousand to one hundred thousand to provide relief to the common man and small shopkeepers.