Economy, revenue to grow if govt resolve trader’s genuine issues: LCCI

LAHORE: The economy will grow and revenue of the government will be increased if the government gives due respect to the traders and resolve their genuine issues like dual taxation, high cost of doing business and a large number or taxes etc.

These views were expressed by the LCCI President Kashif Anwar, Senior Vice President Chaudhry Zafar Mehmood and Vice President Adnan Khalid Butt while addressing the delegations of the traders from major markets, at the Lahore Chamber of Commerce & Industry.

They said that the government should pay attention towards the issue of double taxation. They said that the major issues faced by the taxpayers at present due to non-collaborations between various taxation bodies, jurisdiction disputes, double taxation between provinces, non-uniformity of provincial laws, structural issues in Provincial revenue collection bodies, and overall lack of collaboration and harmonization.

The LCCI office-bearers suggested that in order to facilitate the taxpayers, there should be harmonization and collaboration between federal and provincial revenue collection bodies.

They urged the federal and Punjab governments to reduce the undue interference of departments etc. in the business activities to ensure business friendly atmosphere. They said that it will not only encourage the local investors and help trust building between the businessmen and government departments but will also broadcast a good message to the foreigners which will enhance FDI. They said that least interference of the government departments could be ensured through one window operation.

Copyright Business Recorder, 2022