Islamabad: Traders should pay regular tax and play their positive role in the economic development of the country, observed Khalid Chaudhry, Senior Vice President, Islamabad Chamber of Commerce & Industry while addressing a delegation of Traders Welfare Association, PWD that visited ICCI led by its President Ch. Riasat.
Khalid Chaudhry said the government has taken many initiatives in the new budget to expand tax net due to which tax revenue is expected to improve. He said ICCI has always been advocating for enhancing tax net instead of overburdening the existing taxpayers and it is encouraging that government has made some progress to this direction.
He informed the traders that now all commercial connections will be provided on obtaining of NTN and they should prepare themselves for registration in tax net. He said budget 2014-15 has proposed to charge 5 percent tax on retailers having monthly electricity bill up to Rs.20,000 and 7.5 percent on more than Rs.20,000.
Khalid Chaudhry said there are around 8.0 million commercial connections holders who pay advance withholding tax, but those who don’t file returns, remain out of tax net and they should file returns to become regular taxpayers. He assured traders that ICCI would continue to work for resolving their problems and to facilitate them in their business pursuits.
Speaking at the occasion, Ch. Riasat, President, Traders Welfare Association, PWD, Islamabad highlighted the issues being faced by the local business community.
He said there are about 2000 traders in PWD, Pakistan Town and Police Foundation localities, but absence of rent control act was their biggest issue due to which they always feel insecure. He said ICCI should play its role for early promulgation of a balanced rent control act in Islamabad.
He said roads in PWD area need repair and improvement. He said traders have many issues with local administration & Lohi Bher Thana and they need ICCI guidance and support for redress of their problems. He was optimistic that TWA, PWD in cooperation with ICCI would play more effective role in addressing the issues of trading community.
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