Vice President Karachi Chamber of Commerce and Industry (KCCI), Junaid Makda has criticised different provisions of the proposed sales tax return. Talking to the media here Saturday at KCCI, he said that the new proposed sales tax return form contains a number of new annexes that require a 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 KCCI 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 neither practical nor possible.
Makda opined that the undocumented sector is far bigger than the documented one hence it is not possible for the former to force them to provide such details. He was of the view that such measure would hurt their business activities. VP KCCI further argued that when there is a large number of fake CNICs as reported recently by the election commission, then how come the business community can ensure authenticity of data declared by buyers and sellers.
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