KARACH: The Karachi Chamber of Commerce and Industry (KCCI), highlighting impacts of instant massive Super Tax payments on the economy, Wednesday, sought a clear, structured and business-friendly installment facility, enabling taxpayers to discharge their liabilities without affecting their operations.
President KCCI Muhammad Rehan Hanif, in a statement, acknowledged the Federal Constitutional Court’s verdict and the government’s revenue requirements, stressing that the manner and timing of super tax recovery are equally critical, particularly when the business community is facing various challenges and massive tax payments running into hundreds of billions of rupees in one go will severely disrupt business operations.
He proposed options of adjustment of super tax liabilities against long-pending income tax and sales tax refund claims, and discharging super tax liabilities in installments over a reasonable period and argued that such an approach would ensure better compliance while safeguarding industrial continuity and employment.
President KCCI reiterated that a weakened private sector cannot support revenue generation or economic recovery, and stressed that sustainable revenue collection must go hand in hand with business survival
