Hyderabad Chamber of Commerce and Industry (HCCI) has appealed the Federal Board of Revenue (FBR) to withdraw the imposition of 0.6 per cent tax on all banking transactions.
President HCCI, Goharullah said this in a statement released here on Thursday. The tax was being charged on all forms of banking transactions over Rs 50000 for non-filers such as cash withdrawal, Pay Order, Cheque, Bank Draft, Cheque Transfer, he said.
It was causing various problems for the business community and it was also affecting the business activities negatively, he said.
He urged the FBR to withdraw the imposition of such tax on all banking transactions.