Lahore: Irfan Iqbal Sheikh, Chairman, The Pakistan Industrial and Traders Associations Front (PIAF) said that in the next budget, an unacceptable law such as the withholding tax should be eliminated. Due to the adverse effects of the withholding tax, the business community is facing anxiety. In the presence of income taxes, sales tax, and other taxes, there is no validation of the withholding tax on the transactions of its deposits. Banks are also under crisis due to tax, so the withholding tax should be returned immediately.
The government understands the trademark community’s problems and eliminates the widespread tax to increase the tax net. Chairman Irfan Iqbal Sheikh, Senior Vice Chairman Tanvir Ahmed Sufi and Vice Chairman Khawaja Shahzeb Akram said that there should be no additional tax on traders in the budget. Only those people who are not tax paid to the government should be brought to the tax net.
PIAF Remarks about Tax Amnesty Scheme
Irfan also said that the recent tax amnesty scheme will definitely assist government to bring back the offshore health.
In his joint statement along with the vice chairman Khawaja Shahzeb Akram and senior vice chairman Tanveer Ahmed Sufi, Irfan appreciated the government’s stance on tax amnesty scheme. He also said that the government should analyze the long-term effects of this scheme.