SIALKOT: The Sialkot Chamber of Commerce and Industry (SCCI) has welcomed the decision of Ishaq Dar, Federal Minister for Finance, to invite the business community for a meeting to resolve the issue of 0.6 percent withholding tax on bank transactions.
Talking to the newsmen here, SCCI President Fazal Jillani said that the issue has created unrest among the business community that needed to be addressed urgently. He added that already the issues of raise in sales tax from 2 to 3 percent on five export sectors, inordinate delay in settlement of custom duty drawback claims, sales tax and income tax refunds of exporters were badly affecting the business community, which also need urgent attention of the government.
President SCCI said that the business community across the country was hard pressed to protest against the imposition of 0.6 percent WHT and as a first step dealing with banks were being reduced that would promote undocumented economy. Fazal Jillani revealed that the time was high for both govt and business community to join together to make efforts for boosting trade and industry for economic stability and strength creating maximum opportunities of employment and generate revenue. Arbitrary policies do not help, he added.
He expressed his confidence that the Federal Minister for Finance would provide relief to the Business Community by withdrawing 0.6 percent WHT on bank transactions immediately and would also reconsider the decision about raise in sales Tax from 2 to 3 percent and issue immediate orders for settlement of duty drawback and claims.
