Pakistan Industrial and Traders Associations Front (PIAF) has urged the government to immediately withdraw Reformed General Sales Tax and 10 percent flood surcharge, as it would push the industrial sector to the wall.
The PIAF Acting Chairman Kh Shahzeb Akram in a statement said the chambers of commerce and industry and trade associations across the country are strongly opposing the implementation of RGST, but federal cabinet approved RGST and flood surcharge without considering its dire impacts on trade, industry and the common man. The business community would not allow the government to impose IMF and World Bank dictations without seeking consent of the stakeholders, he added.
He said that the government was making fun of business community and the common man. He urged to impose tax on agriculture income, which will bring huge money to the kitty. He said that imposition of 15 percent RGST will have complication, as there is no documentation.
He said the government took this decision in haste under the pressure of IMF and did nothing positive for making it viable. He said government should have to consult the stakeholders. Shahzeb Akram said that the industrial sector was facing pressure due to multiple reasons and this decision would cause hell not only for industrial sector, but also for common people. He said that business community was suggesting the government to expand the tax net but government was over-burdening the existing taxpayer.
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