Retailers told to submit proposals before Finance Bill passage

Director General/Regional Commissioner of Income Tax, Haji Ahmad, has asked the retailers to submit their proposals before the passage of Finance Bill 2007. He stated this during a meeting with the retailers, here on Tuesday.
He stated that despite crisis of electricity and decline in exports, Central Board of Revenue (CBR) would achieve Rs 1.025 trillion targets fixed for the financial year 2007-08. An amount of Rs 405 billion would be recovered under the head of Income Tax, while Lahore region will recover Rs 24 billion.
The meeting was informed that 90 percent wholesalers were not registered with tax department, while there was nominal share of paper industry in revenue. On the occasion, the retailers presented various proposals to equalise the property tax ratio and removing confusion in sales tax laws. They urged the government to bring into tax net those people holding luxury vehicles and big buildings. Rukhsana Yasmin, Collector sales tax and federal excise was also present on the occasion.