Islamabad: President of Islamabad Chamber of Commerce and Industry Ahsan Zafar Baghtawari reminded the government to prioritize the concerns of business groups to prevent economic hardship and said the increase in fines and fees under the new Finance Law has created difficulties for businesses. .
In a statement issued here on Thursday, he said that the business community should not be afraid of paying taxes and fees, but they should appreciate the real reality and the convenience of the business community. Instead of imposing additional taxes on taxpayers, he said the tax net should be expanded, adding that policy inconsistencies are causing many problems and that the new two-level appeal system may lose the trust of taxpayers.
He said, it is necessary to review some provisions of the Finance Bill 2024, otherwise, the business sector will not be happy, which will reduce exports and remittances, and sellers will not be able to adopt Point of Sale (POS) system, asked the government to review its policies to prevent industrial closures and relocations.
In addition, ICCI said that exports have been included in the regular tax regime, which causes harassment, while 1% sales tax on exports will be used as a minimum tax and additional taxes will be levied later in the year. standard tax regime.
