Member Standing Committee of National Assembly on Finance, Revenue, Planning and Development, Abdul Rashid Godil and MNA Khawaja Sohail Mansoor have assured business community that they will oppose imposition of Reformed General Sales Tax (RGST) in the National Assembly. They further said that they would make all possible efforts to save the nation from the devastating impacts of RGST.
Addressing members of Pakistan Chemicals and Dyes Merchant Association (PCDMA) here on Saturday, they said that MQM has presented a well-thought 9 points agenda for the consideration of the government and broadening the tax net as well as replacing RGST. If this 9 point agenda is implemented government would be able to generate Rs 1200 billion additional revenue instead of Rs 150 billion revenue as envisaged after the imposition of RGST. They were of the view that if RGST was implemented in its present shape it would increase price of every commodity besides loan.
Godil feared that the government would face serious resistance from business community if government decided to impose RGST at any cost. He advised members of the association to send their proposals regarding RGST to National Assembly standing committee on finance for its consideration. Godil pleaded that income from agriculture must be taxed to broaden the tax net and bring those under tax net who were enjoying lavish lifestyle and tax exemption.
Mansoor said that government could generate huge revenue by just reforming present general sales tax system. However, government has to take action against corrupt practices in Federal Board of Revenue (FBR). Chairman PCDMA, Mohammad Haroon Agar informed the members of National Assembly about reservations of the business community about RGST. He further said that implementation of RGST would have drastic impact on the lives of already suffering people.