MULTAN: The President of the Multan Chamber of Commerce and Industry (MCCI), Mian Rashid Iqbal, has expressed strong support for the business community’s planned shutter-down strike in protest against the recently proposed trader-friendly tax scheme.
The scheme, according to the MCCI, has sparked significant concerns among traders due to its focus on existing taxpayers rather than broadening the tax base to include new entrants.
Mian Rashid Iqbal criticized the scheme, labeling it as flawed and detrimental to the interests of current taxpayers. He noted that the scheme adds unnecessary financial pressure on those already contributing to the national revenue, instead of incentivizing non-taxpayers to enter the tax net.
“The Multan Chamber has consistently advocated for an expansion of the tax net, which would bring new taxpayers into the fold and thereby increase national revenue. This would, in turn, provide much-needed relief to existing taxpayers,” Iqbal remarked.
He further demanded that the Federal Board of Revenue (FBR) immediately withdraw the advance tax notices issued under this scheme. Mian Rashid Iqbal emphasized the need for policy formulation through stakeholder consultation, taking into account the practical realities faced by the business community.
The MCCI’s endorsement of the shutter-down strike highlights the growing unrest among traders, who are unified in their opposition to the current tax policy and are calling for a more equitable and inclusive approach.
