Lahore: The Lahore Chamber of Commerce and Industry (LCCI) will take up imposition of tax on bank transactions with the government.
In a statement issued here, the LCCI President Ijaz A. Mumtaz said that the Finance Minister Ishaq Dar would be convinced for the withdrawal of this new imposition that hit the businesses badly.
He said that the LCCI was along with all the trade and industry associations against this imposition of tax on bank transactions.
He said that if tax on all bank transactions was imposed forcefully, it would not only hamper the trade and economic activities but would also tarnish the image of the government.
The LCCI President said that a number of trade and industrial associations have approached to the LCCI and informed that imposition of tax on all banking transactions has caused unrest and put the interests of business community on stake.
He said that imposition of this tax would force business community to conduct its monetary transactions in cash that would promote the undocumented economy.
Ijaz A. Mumtaz said all business-related decisions should be taken in consultation with the stakeholders as being done in the developed countries.
He said that Federal Finance Minister would be asked to take all trade and industry related decision in consultation with the business community which is backbone of the economy.
Ijaz A. Mumtaz said that the chamber advocated the broadening of tax net but all measures should be taken in consultation with the stakeholders.
