All Chambers term Budget 2015-16 as anti-business, tantamount to cause harassment

Karachi, June 18, 2015 (PPI-OT): Presidents of Chambers of Commerce and Industry all over Pakistan have termed budget 2015-16 as anti business community tantamount to cause harassment to industrialists and traders all over Pakistan.

They expressed serious concerns during All Pakistan Chambers’ Post Budget Conference held in a local hotel on Thursday which was largely attended by Presidents and representatives of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), and chambers of Karachi, Islamabad, Rawalpindi, Faisalabad, Sheikhupura, Sialkot, Gujranwala, Haripur, Chakwal etc along with Presidents of Traders Associations from various parts of the country.

The conference urged the government to immediately repeal imposition of 0.6 per cent withholding tax on banking transactions, Sales Tax Registered Individuals and AOPs which were made income tax withholding agents in 2013, SRO 608 along with its sub section 214-D, whistle blower clauses 177 and 227-B and discretionary powers to tax men which is total misuse of powers causing harassment to business community. They said all the demands of business community must be considered and resolved at the earliest.

The business leaders called upon government to immediately honour the demands of business community and any failure to do so will leave no other option for the business community but to agitate against the unpopular budget. Business community will go on strike round the country, they added.

They said the budget 2015-16 is anti business community move and if it was not rectified, it will be tantamount to waste the energies of businessmen and industrialists who will remain engaged in resolving tax issues instead of doing their businesses.

While expressing serious concerns over imposition of 0.6 per cent withholding tax, representatives of business community stated that the government should explain filer and non-filer before imposing such a huge tax. This tax will not give any benefit to FBR but will remain hanging like a sword on the heads of business community and they will be exploited by tax men, they maintained.

They said it will be conspiracy to force people to shift their money outside Pakistan to avoid such tax measures. The conference evolved a strategy to go on strike if their demands were not fulfilled. They were of the view that business community is not against the tax payment or broadening the tax net.

They said that government should sit with the business leaders to look for ways and means of how to expand tax net and enhance revenue. Over burdening the people who are already paying tax is no solution and government must take appropriate measures for broadening the tax net.

For more information, contact:
Aamir Hassan
Director Press/Electronic Media and Public Relations
Karachi Chamber of Commerce and Industry (KCCI)
Aiwan-e-Tijarat Road, Off Shahrah-e-Liaquat,
Phone: +92-21-99218001-09
Fax: +92-21-99218040