Provincial Finance Minister Ayesha vows to enhance tax net instead of tax ratio in upcoming budget
LAHORE: The 0.9pc infrastructure development cess on goods should be eliminated as business community is already paying huge taxes in Sindh at the time of clearance of their goods. The cess and other additional tax has played havoc with the business activities in the Punjab and a worse type of unemployment has taken place especially at the dry ports where the labor is forced to live on raised money to feed themselves. No new taxpayer will dare to come into to the tax net until the existing taxpayers are respected. Federal and provincial tax authorities lack intra-communication harmony thus the business community is paying double infect multiple taxes which has made business doing an uphill task discouraging local and international investors.
These were the view expressed by the representatives of business community at the Pre-budget Seminar held at the Lahore Chamber of Commerce and Industry here
Provincial Minister for Finance Dr Aysha Ghous Pasha, LCCI President Abdul Basit, SVP Amjad Ali Jawa, Punjab Revenue Authority Chairman Raheel Ahmad Saddiqui, Almas Haider, Kashif Anwar, Habibur Rehman Zubari, Shahid Khalil, Sheikh Tanveer and others were present on the occasion.
LCCI President Abdul Basit said that luxury tax should also be abolished as it is tantamount to collect multiple taxes from the same taxpayers. He said that there should be one tax collection body which will not only help reduce operational casts besides taxpayers and tax collectors both would save time and money ensuring ease of doing business which is at 158 position in international ranking.
He added that raids should at once be halted to save the companies’ hard earned good-will.
Convener standing Committee on Economic Affairs Kashif Anwer said no new taxpayers will come into the tax net sighting the plight of existing taxpayers. Existing taxpayers have to be respected and awarded with rewards and incentives to nurture tax culture in the country.
LCCI standing committee on dry ports Convener Muhammad Siddique Rehan said that the PRA should immediately resolve cess issue with the Sindh government as importers and exporters have never used any infrastructure of the Sindh government instead federal government’s installation are being used by the Punjab business community.
Dr Aysha Ghaus Pasha said that Punjab government will enhance tax net instead of tax ratio in the upcoming budget and all the other matters related to the business and business community will b e addressed on priority basis. She added in order to enhance tax net and cultivate tax culture in the province the government has started holding awareness seminars and workshops at the universities, colleges’ levels.
“We need to do more to make thing better as everything is not good besides we need to enhance exports and investment to attain sustained economic growth.
Dr Rahil Ahmad Saddiqui said that efforts are underway to resolve cess issue with the Sindh government and we have reach to an understanding of reducing tax ratio in order to give relief to the business community of Punjab.
“Uniform formula has been drawn to reduce tax to abolish double tax on the industry and business,” he said, adding PRA has also made arrangement to enable taxpayers to use Bank of Punjab wide branches network besides PRA will not adopt FBR culture instead it will adopt a soft approach and resolve issue with business community amicably.
At the end Dr. Ayesha Ghaus Pasha inaugurated the LCCI incubation here at the Lahore Chamber of Commerce & Industry. The Center has been established to facilitate the young and new entrepreneurs.
