President of Sarhad Chamber of Commerce and Industry  (SCCI) Fuad Ishaq on Thursday urged the government that there should be no any new tax on the business community after implementing the Tajir Dost Scheme (TDS) for its success. Speaking to members of the business community during the visit of Chief Commissioner, Regional Tax Office Peshawar Zafar Iqbal here, he suggested that scheme should be approved by Parliament of Pakistan for next 20 year, along with a guarantee that there would be no impose new tax on business community after implementation of the scheme. The SCCI chief demanded further reform initiatives to simplify the taxation system and bring the tax rate to single digit. Besides, elimination of double taxation, traders should be facilitated under one-window operation, he stressed. He also called for promoting close liaison and coordination between chambers, business community and tax-collection authorities to take joint measures for amicable resolution of the traders’ issues.

Fuad Ishaq was speaking to members of the business community during the visit of Chief Commissioner, Regional Tax Office Peshawar Zafar Iqbal here. Chief Coordinator Tajir Dost Scheme, Naeem Mir, Commissioner RTO Peshawar Dr Syed Farooq Jamil, Additional Commissioner Aisha Dilshad, DC Headquarters Riaz Ahmad Khan were accompanied by the Chief Commissioner RTO Peshawar. The meeting was also attended by SCCI Vice president Ejaz Khan Afridi, former presidents Haji Muhammad Afzal, Zahidullah Shinwari, Sherbaz Bilour, former senior vice presidents Ziaul Haq Sarhadi, Imran Khan Mohmand, executive members Javed Akhtar, Hamza Ibrahim Butt, Muhammad Ismail Safi, Kashif Amin, and Nadeem Rauf, Saddar Gul, Ishtiaq Muhammad, Bakht Zaman, Atif Shahzad, Malik Khalid Farooq, Ihsanullah, Aftab Ahmad, traders importers and exporters. On the occasion, Chief Commissioner RTO Zafar Iqbal and other officials briefed participants about important points, importance and benefits of Tajir Dost Scheme, which according to the officials, aimed at broadening the existing tax net.

Pakistan is annually paying Rs eight trillion on head of debt servicing for internal and external loans and the same amount generated through various taxes, which is insufficient for the country’s progress, Fuad Ishaq said. The SCCI chief asked for broadening the tax base by avoiding imposition of new taxes on the existing taxpayers. He said the business community wants to see Pakistan in the rank of developed nations but we should redirect policies and make them favourable and friendly for business, trade and industry. Fuad Ishaq suggested Federation of Pakistan Chambers of Industry (FPCCI), chambers, Institute of Chartered Accountants of Pakistan and economic wing of Army should jointly prepare the fiscal budget.

Credit: Independent News Pakistan