Turnover Tax and Sales Tax be retained at previous level: Lasbela Chamber of Commerce and Industry

Lasbela, July 31, 2013 (PPI-OT): Mr. Maqsood Ismail, President, Lasbela Chamber of Commerce and Industry have extended congratulations to Mr. Tariq Bajwa, Chairman, Federal Board of Revenue for taking charge of his office during a meeting with him held yesterday.

The Chamber’s President also discussed the matters pertaining to sales tax and the problems being faced by the business community due to the measures taken in the current Federal Budget, which are adding to the cost of doing business thus rendering them in-competitive.

While discussing the issues, Mr. Maqsood Ismail suggested that the sales tax and the turn over tax rates should be retained at their previous level of 16% and 0.5% respectively, in order to enable the business community to keep the cost of production under control.

He also suggested that the sales tax paid by a registered person on behalf of unregistered person in case of any purchases from them, should be allowed to be adjusted as in-put tax to avoid extra burden on the tax payers.

Mr. Maqsood Ismail further proposed that Income Support Tax and access of tax officer to the bank account of tax payers should be withdrawn in order to control the corrupt practices and for building of confidence of the business community, who always try their best to keep the economic wheel moving under any economic or political circumstances.

The Chairman, Federal Board of Revenue has been very kind to listen to the President, Lasbela Chamber quite patiently and discussed the issues in detail.

For more information, Contact:
Muhammad Farhan
Public Relations Officer
Lasbela Chamber of Commerce and Industry
Ground floor, lieda office building, Hub, Dist. Lasbela,
Tel: (0853) 303410, 304461
Fax: (0853) 302431
E-Mail: farhanprolcci@yahoo.com