Rawalpindi: Chamber of Small Traders and Small Industries President, Sheikh Asif Idrees, has said the business community is not against documenting the economy, but also needs to look at the objective situation.

The checks will no longer be usable for payment in the coming dates. The new procedure should be implemented in phases.

The deadline for digital payment of Rs 250,000 to the business community should be extended does not have the capability to adopt digital payment methods.

Also, the corporate sector does not have the required information and capacity. He said that the procedure is being implemented through a presidential ordinance as the ordinance has not been extended by the assembly yet, thus creating uncertainty in the business community.

The situation is facing. It may be recalled that according to a statement issued by the FBR, the Tax Laws Amendment Ordinance 2021 has introduced significant changes aimed at documenting the economy and bringing the supply chain into the tax net will have to disclose expenses.

He demanded the FBR to extend the grace period for corporate taxpayers and postpone the digital payment procedure from November 1.