UBG seeks tax-free budget, special package

United Business Group (UBG) has put forward a set of proposals to the government seeking tax free federal budget 2020-21 besides special package of incentives to accelerate the pace of economic activities in the wake of Corona pandemic. Unfolding the salient features of budget proposals, UBG Central Chairman Iftikhar Ali Malik said his group has suggested the government to revamp taxation system on modern lines. "The objectives of budget proposals are revamping taxation system, documentation of economy, employment generation through industrialization, promoting a responsive and equitable taxation system, infrastructure," he said, adding: "The government should reduce sales tax rate gradually to single digit, abolish all duties and taxes on the imports of machinery."