Post budget meeting of Pakistan Chemicals and Dies Merchants Association (PCDMA) was held on Friday, at PCDMA office, under the chair of acting Chairman, Khawja Arif.
Association members participated in large number and discussed the entire budget related to PCDMA in depth and unanimously decided to tender full support to the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Karachi Chamber of Commerce and Industry (KCCI) standing for the budget 2009-10.
Further, PCDMA strongly opposes Federal Budget 2009-10, as the same will open all doors of corruption in all government departments, among them on top is Income Tax, Sales Tax and Customs and this will surely result in short of revenue.
Withholding/income tax rate have been increased @ 100 percent and it is also kept in "the minimum tax regime" which is not acceptable at all. Government is not interested in looking for new taxpayers and again raise burden on business community who already pay 60 percent of the total revenue.-PR