President Multan Chamber of Commerce and Industry (MCCI), Shahid Naseem Khokhar, criticised the different provisions of proposed sales tax return. Talking to the media the other day, he maintained that the new proposed sales tax return form contains number of new annexure, which requires plethora of information.
He was concerned over the requirement of CNIC or National Tax Number (NTN) of all buyers and suppliers in the proposed return form. He said that while MCCI is in favour of bringing all the persons having threshold income in the tax net, all their members are necessarily required to produce NTN and STRN where applicable. However, burdening them to get some information from supplier and buyers is not at all practical nor possible, he opined. He said undocumented sector is far bigger than documented sector hence it is not possible for documented sector to force them to provide such details.
Junaid was of the view that such measure would hurt their business activity.
He further argued that when there are large numbers of fake CNlC reported recently by the Election commission, then how come the business Community can ensure authenticity of data declared by buyers and sellers. He also maintained that in the absence of the backup legal clause in the sales tax act, such requirements are unnecessary and the policymakers should take the business community on board before taking such measures.
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