Chaudhary Muhammad Nawaz, President Faisalabad Chamber of Commerce and Industry (FCCI), has demanded extension in date for filling returns under Voluntary Tax Compliance Scheme 2016 till April 30, 2016. Talking to newsmen here on Friday, he said that the issue of withholding tax on bank transaction remained bone of contention between the government and the business community for the last six seven months.
However, he praised Haroon Akhtar Khan, Special Assistant to Prime Minister on Revenue, for handling the issue prudently by involving the business leaders and taking all stakeholders on board. He said that the VTC scheme was formulated to accommodate the hundred percent demands of the business community and particularly the small traders. He also mentioned his recent visit to FCCI in which he explained the salient features of VTC Scheme, adding that the all demands of the business community has been fulfilled through this scheme and now there was no justification to oppose this scheme.
He said that the business community was appreciative of the good gesture of the government and particularly Haroon Akhtar Khan but it was a hard fact that most of the time of business community was wasted in frivolous discussions and agitations and many of them would be unable to file their returns before February 29 which is last date to file these returns.
He said that this issue was also taken with Haroon Akhatar Khan and he was very sympathetic and assured that business community should file a proper request for extension in this date enabling him to take up this issue with Finance Minister Ishaq Dar. He told that the FCCI was also of the view that this date should be extended at least for two months so that maximum traders could file their returns under this new scheme. He further said that government should allow traders to file their returns under VTC Scheme up to April 30.