Taxable turnover limit: HCCI demands increase

Hyderabad Chamber of Commerce and Industry (HCCI) has expressed concern over the tax on an individual and Association of Persons (AOP) collected by the Federal Board of Revenue (FBR). HCCI's Senior Vice President Turab Ali Khwaja urged the FBR to lower the tax from 1 percent to 0.5 percent and increase the taxable turnover limit from Rs10 million to Rs100 million.
He also requested the FBR to lower the Withholding Tax on electronics items from 0.2 percent to 0.1 percent.
The HCCI also urged the authorities to withdraw the property tax because in the prevailing economic situation the property sector would not be able to survive a new levy.