LAHORE: Lahore Chamber of Commerce and Industry (LCCI) president Irfan Qaiser Sheikh Thursday urged the chairman Federal Board of Revenue to withdraw SRO 564(I)/2012 as wholesalers were facing deep troubles due to restriction to claim only 90% of their input tax.
In a statement issued here, he said value addition of wholesalers was not more than two to three percent and if availability of input tax to them was restricted upto 90 per cent and they were forced to pay 10 per cent as output tax they would be out of business.
"It is not only the business community that would be suffering due to this SRO but the government would also be losing a huge amount of revenue as a result of closure of businesses," he added.
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