All Karachi Tajir Ittehad (AKTI) has called an import meeting today (Tuesday) to take decision on some points in the income tax form whether or not to file the tax returns for the year 2011-12. Talking to Business Recorder on Monday, Chairman AKTI Muhammad Atiq Mir said the small traders have their "principal" stance on some point in the income tax form and already aired their reservations to let the Federal Board of Revenue (FBR) know them.
"We [small traders] are holding an important meeting on Tuesday November 15 to make a key decision to file the income tax return," he said, adding the tax office should understand and approve the demands of small traders who continued to survive the unfriendly business atmosphere. He said the traders wanted the tax office to simplify the income tax form, omit mandatory condition of mentioning personal expenses details, reverse the increase in turnover tax to half percent, etc. He said traders would also demand for further date extension to file income tax forms.
He said a plan is also likely to be discussed in the meeting how to stop the tax recovery teams from entering different markets after the traders' defiance to file the forms. He said AKTI would constitute action committees to monitor the situation.
He said the "disputed" conditions in the tax form are an attempt to destroy the tax culture of the country and termed it "conspiracy. He said the IMF's conditions, which FBR was toeing have risked the country's economy. Atiq Mir demanded of the government to form a five-year tax policy keeping in view the tax payers' problems. He said the fresh policy of the tax office has increased the gap between it and the tax payers, adding the distrust environment should now narrow down in the greater of the nation to underpin the fragile economy.
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