INCREASE IN PROPERTY TAX IS CONDEMNABLE, SHOULD BE WITHDRAWN IMMEDIATELY. ATIF IKRAM SHEIKH

Islamabad(PR). President of Federation of Pakistan Chambers of Commerce and Industry Atif Ikram Sheikh has said regarding the increase in businessmen friendly tax scheme and property tax up to 400% that taxes should be rational, the priority of the government is to increase the tax net instead of imposing new taxes. If so, the economic situation will improve. The business community wants to pay taxes, but the tax system has to be modernized and simplified because the rotten and difficult tax system is a big obstacle in this way.
Atif Ikram Sheikh said that no one can become a member in the chambers of Pakistan without a tax filer. We pay taxes and are in favor of paying taxes, but taxes should be rational. In the difficult situation of the business community, imposing new taxes will make businesses more difficult.
He said that the increase in property tax up to 400% in the federal capital is cruel and should be withdrawn immediately. We suggest that a meeting be convened in which all the stakeholders are consulted and a unanimous decision is taken to levy the tax because increasing the property tax with the current ratio will make Islamabad the most expensive city. At this time, the businesses are almost closed. From where will the business community pay more taxes? We suggest that the government imposes a rational tax in consultation with the stakeholders.