Chairman, Korangi Association of Trade and Industry (KATI), Johar Ali Qandhari has suggested that National Tax Number (NTN) should be made mandatory for purchase, sale and allotment of property for the purpose of broadening of tax net. He further proposed that NTN should be made mandatory for purchase of car, opening of bank account, credit cards and Central Depository Company (CDC) registration.
He pleaded that the government must withdraw exemption of agriculture sector from income tax. He was of the view that the government has computerised record of income tax and expressed hope that now the government will face no obstruction in income tax refunds. Qandhari noted with concern that industry sector already facing number of issues including high cost of utility, oil, exorbitant high bank mark-up rates, number of provincial and federal government taxes which have made Pak products very costly and uncompetitive in international markets.
He further pointed out that the country facing long hour power and gas load shedding and added that incipit of load shedding gas and power tariffs increased frequently without any improvement in it supply which is a setback for industrial sector. The Chairman said that it is a concern question that exporters can manage to book orders for exports when their products are uncompetitive in international market.
Comments
Comments are closed for this article.