Atif Ikram Sheikh, President of Pakistan Federation of Chambers of Commerce and Industry, said that taxes should be prudent on the business friendly tax plan and the increase of property tax up to 400%, the government’s priority is to increase net tax rather than taxing. new tax. If so, the economic situation will improve. Businessmen want to pay taxes, but the tax system needs to be modernized and simplified because the corrupt and complex tax system is a big obstacle.
Atif Ikram Sheikh said that no one can become a member of Pakistan House without paying taxes. We pay taxes and we are favored to pay taxes, but taxes must be rational. In a tough business environment, new taxes will make it harder for businesses.
He said the increase in property tax in the federal capital to 400% was outrageous and should be withdrawn immediately. We suggest that a meeting be held where all stakeholders will discuss and take a unanimous decision on the tax, because increasing the property tax to the current ratio will make Islamabad the most expensive city. Today, the business is almost closed. Where do business groups pay the most taxes? We recommend that the government implements rational taxation in consultation with stakeholders.
Taxes should be rationale, govt should make policies to increase tax net: President FPCCI
