Chairman Pakistan Consumer Traders Association (PCTA) and former Vice President KCCI, Haroon Agar has opposed 0.3 percent withholding tax on banking transactions and demanded its withdrawal. The government imposed 0.3 percent withholding tax on banking transaction like withdrawal of cash exceeding Rs 25,000 a day.
He said that tax imposed on bank transactions as per Section 231 AA should be limited to cash withdrawal and should not be applicable to NTN holders and active tax payers. These measures would have negative impact on economy, business activities, small businesses and public, he said.