LAHORE: The All Pakistan Cement Traders Association (APCTA) has sought LCCI help to get the issue of tax on all banking transactions resolved.
An APCTA delegation called on LCCI president Ijaz A. Mumtaz and vice president Syed Mahmood Ghaznavi and informed them that imposition of tax on all banking transactions has caused unrest and put the business community in trouble. It was forced to conduct its monetary transactions through the banking system on account of dangers involved in cash handling due to the law and order situation but was being asked to pay tax merely for doing so.
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The APCTA delegation said all business-related decisions were taken in consultation with the representatives of the community in civilized countries, but neither the chambers nor the trade associations had been consulted before the imposition of the unjustified tax on bank transactions.
They said that government should withdraw tax on banking transactions immediately otherwise businessmen would left with no other option but to close down their operations. They said that instead of taking such measures, government should bring the untaxed sectors into the tax net.
The LCCI office-bearers assured the visiting delegation that this matter would be taken up at the highest level.
