LAHORE: While supporting the stance of traders on the issue of withholding tax on banking transaction, the Lahore Chamber of Commerce and Industry has decided to observe strike today (September 9).
According to a statement issued, the LCCI president Ijaz A. Mumtaz said that the Lahore Chamber of Commerce and Industry has decided to go with the traders as they are backbone of the economy and playing role of a silent soldier for economic uplift of the country.
He said that unfortunately government has not shown any flexibility on the issue of withholding tax on banking transactions and forced business community to observe strike to register their protest.
Ijaz A. Mumtaz said that government should withdraw this tax as it has been observed that tax collection machinery has no authentic data to specify difference between filers and non-filers. He said that imposition of 0.3 percent withholding tax on banking transaction is a sheet injustice and against the government’s own policy of tax net expansion
