Traders and shopkeepers belonging to various trade bodies held a big demonstration in front of Multan Press Club in protest against imposition of withholding tax on bank transactions describing it unjust and IMF imposed tax. The demo was led by Khawaja Suleman Siddiqui, central leader, Muhammad Akhtar Butt, Sheikh Javed Akhtar, Matloob Husasain Bukhari, Shahid Mehmood Ansari, Arif Fasih-ullah, Shehzad Akram, M.Idrees Butt and Javed Akhtar Khan. Traders of more than 22 bazaars of Multan city took part in the protest rally.
Rejecting the tax, they said the unfair withholding tax should be abolished immediately; otherwise they would be forced to close their shops and markets for an indefinite period. Carrying banners and placards, they chanted slogans against this ill-advised tax imposed by the federal government. Khawaja Suleman Siddiqui said traders across the country rejected this forced tax and all the businessmen would support traders in their fight against this injustice. It was a cruel tax that would hurt the national economy and national exchequer while promoting unlawful transaction of money like Hundi and others ways, they said. All traders from Karachi to Khyber Pakhtunkhwa, they said, were united on this point and if the government did not review its decision to do away with the tax, traders would be forced to go on strike.
They said banks had no data of the Federal Board of Revenue (FBR) and they were imposing 0.6 per cent withholding tax even on those who filed income tax. The FBR had also failed to keep complete data. Instead of imposing this unnatural tax", tax net be widened, they said, adding that except for traders, widows, pensioners and other poor people also made transactions and they had to pay 0.6 per cent tax as well. Traders explained that this withholding tax of 0.6 per cent, which was being imposed on those who did not file income tax, would have to be paid on withdrawal of over Rs 50,000 in cash and even on online bank transactions of the same amount.
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