FPCCI For Introducing Business-friendly Polices, Reducing Tax Burden On Existing Taxpayers In Upcoming Budget

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday urged the government for introducing pro-business measures in upcoming federal budget for flourishing local trade and industry

ISLAMABAD, (UrduPoint / Pakistan Point News - 5th Jun, 2021 ) :Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday urged the government for introducing pro-business measures in upcoming federal budget for flourishing local trade and industry.

They also urged the government to broaden the tax base instead of burdening existing taxpayers, besides simplifying the tax regime and building trust among tax collecting authorities and tax payers.

The suggestions were made in a meeting of a delegation of chairmen Senate Standing Committees, who visited FPCCI and held pre-budget discussions with the representatives of trad bodies across the country.

The delegation was comprising on Senators Talha Mehmood, Chairman Senate Standing Committee on Finance, Revenue and Economic Affairs, Senator Abdul Qadir Khan, Senator Kamil Ali Agha and Former Federal Minister Shiekh Waqas Akram.

The meeting was also attended by office bearers of FPCCI and the representatives of chambers of commerce and trade associations of Sindh, Punjab, KPK provinces and Gilgit Baltistan.

On the occasion, Mian Anjum Nisar, former President FPCCI gave a detailed briefing on budget proposals sent to the government by FPCCI.

Speaking on the occasion, the FPCCI Office bearers said that business community was paying their tax and in response they wanted respect, dignity, honour and end of harassment.

They were of the view that tax payers in the country was feeling pressure due to high markup rates, increasing tariff of electricity and gas and other high cost of doing business as compare to other regional countries.

Every year in federal budget, the existing tax payers were charged more taxes by the tax authorities instead of expanding the tax net, they said.

They urged for making reforms in tax system, besides ensuring respect and honor for tax payers and providing relief to the tax payers, making the business easier and providing best level playing field and business friendly atmosphere for business community.

The said that pro-business environment would help the governments endeavour of improvement in foreign exchange, employment opportunities and improvement in the economic situation of the country.

They also urged the government for announcing a matching special package for other sectors as announced for construction sector.

Speaking on the occasion, Senator Talha Mahmood said that role of business community was vital in sustainable economic growth and development of the country.

He stressed the need for bridging trust deficit between business community and tax authorities to enhance revenue collaboration.

He also asked for preparing a mechanism to resolve refund and rebates issues in shortest time frame to maintain confidence and trust among government organisations and businesses.

He assured that the suggestion of Business community would be incorporated in lbudget because they are direct stakeholders.

Chairman Standing Committee on Petroleum Senator Abdul Qadir Khan, Chairman Standing Committee on Functional Committee Kamil Ali Agha assured the business community that their issues and problems being faced by local businesses would be addressedon priority basis.

He further said that all the members of the Senate will work together with FPCCI for the economic development of the country.