ISLAMABAD: Talks between government and Federation of Pakistan Chambers of Commerce result in failure, after this traders announce to hold protest rallies across Pakistan against imposition of withholding tax on banking transactions.
Sources told this correspondent that Federal Minister for Finance Ishaq Dar assures trade bodies representatives that government is still ready to meet their constitutional demands on imposition of withholding tax.
Federal Finance Minister also accepted a proposal put forward by traders to increase capacity of consultation committee of traders from 19. Now the final round between government and traders will be held on Tuesday (today) at 11 a.m. in FBR.
Trade representatives who will take part in the talks include president Federation of Pakistan Chambers of Commerce and Industry Mian Adrees, representatives of trade bodies from all four provinces. The government side will be represented by Chairman FBR Tariq Bajwa, members of Tax Advisory Board and Tax Reforms Commission and member National Assembly Mian Abdul Manan will also be present during the meeting.
Sources told this correspondent that Federal Finance Minister Ishaq Dar is still optimistic that negotiations will be positive result-oriented. Talking to media persons outside FBR Ishaq Dar said that present government wants to put Pakistan on the road of progress and prosperity. He said this year is quite difficult as flood, and IDPs issues are also on the cards. He said that still we need Rs 100 billion for IDPs, and flood affected people and areas. He said in written agreement with traders it was agreed that government will resolve all outstanding issues of traders community.
Meanwhile, Chairman FBR while talking to media persons outside FBR office said that the main purpose to impose withholding tax is bring non-filers of tax under tax net. He assures that withholding tax will not affect tax-payers.
