The business community of south Punjab has endorsed the proposal of fix tax scheme for traders and businessmen operating in commercial markets to improve documentation of the economy and add to revenue collection from traders' community.
President of Multan Chamber of Commerce and Industry (MCCI) Mian Iqbal Hassan said the government could discuss the fix tax scheme on each shop with the business community to make it a viable option and added that fix tax scheme on traders may be an effective tool for documentation of economy as well as improvement in revenue collection. For example, fix tax rate of Rs 10,000 to Rs 1 lakh per shop would be a viable option and traders would be willing to pay the levy. The FBR can discuss the proposal of fix tax scheme with the business and trade, he said.
He was of the view that it is an attractive proposal to fix tax for each shop and the government can discuss the same with the business community.