LAHORE: Lahore Chamber of Commerce & Industry (LCCI) President Malik Tahir Javaid said on Monday that the Lahore Chamber would continue its efforts to get solve the business community’s problems including withholding tax on bank transactions, simplification of taxation system, traffic jams around busy markets,and misuse of discretionary powers by tax officials.
Talking to a delegation of traders, led by Baber Mahmood here at LCCI, he said that business community must have representation in parliament that would be equally beneficial for both traders and economy. LCCI Senior Vice President Khawaja Khawar Rashid also spoke on the occasion.
Malik Tahir was of the view that representation of business community in the parliament would ensure formulation of trade and industry-friendly policies and help economy flourish at a faster pace. He said that withholding tax on banking transaction was hampering trade and economic activities, therefore, it must be withdrawn in the larger interest of businessmen. Though expansion of tax net was need of the hour, the authorities concerned would have to bring the untaxed sectors into the tax net, he maintained.
Head of the delegation Baber Mahmood lauded the efforts of Lahore Chamber of Commerce & Industry for the cause of business community and assured his full cooperation.
