Published On: Tue, Sep 21st, 2021
Published in Category: Politics

New tax on industrial, commercial power bills supported

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ISLAMABAD: Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Monday lauded the move of the government to slap an additional tax on non-filer entities which will broaden the tax base and generate much-needed funds necessary for national development.

He said that the decision is not cruelty or an attack on the masses but a step in the right direction as tax compliance in Pakistan is one of the lowest in the world which leave the government with no other option but to borrow money to run affairs.

Shahid Rasheed Butt rejected hue and cry by opposition terming it an effort aimed at point-scoring while the disapproval by various trade bodies is based on a desire to avoid taxes and lack of understanding of the issue.

He said that the federal government has imposed additional sales tax ranging from five to seventeen percent on the supply of electricity and gas to non-filer industrial and commercial entities that is one of the good decisions of the government.

The government should not bow to the pressure of traders over installing POS at retail business outlets to boost collection, he demanded.