The government has introduced Tax Amnesty Scheme for non-filers according to which they could whiten their undeclared work capital up to Rs.50 million by paying just one per cent tax of the declared working capital for the tax year 2015 and traders should take full benefit of this scheme by paying required tax to improve the tax revenue of the country, told Atif Ikram Sheikh, President, Islamabad Chamber of Commerce and Industry while addressing a delegation of newly elected Traders Welfare Association, F-6 Markaz, Super Market, Islamabad.
According to a press release, the delegation visited ICCI led by its President Shehzad Shabbir Abbasi.
Atif Ikram Sheikh thanked Ishaq Dar, Federal Finance Minister for coming up with a good solution for traders on the issue of withholding tax on banking transactions and stressed that non-filer traders should ensure full compliance of tax amnesty scheme as government has provided them a good opportunity to come into the tax net by paying just 1% of the undeclared amount of up to Rs.50 million.
He said that CDA has started operation for removal of encroachments from Blue Area and other markets. However, he said CDA should take ICCI and concerned market unions fully on board before launching any such operation so that this issue could be tackled with consensus and businessmen could be saved from any unnecessary losses.
He suggested that a Committee should be formed comprising representatives of CDA and business community to deal with the issue of encroachments. He said business community was ready to cooperate with CDA for making the federal capital a green city, but unilateral measures should be avoided to achieve win-win solution of this problem.
