LAHORE: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has appreciated the Federal Board of Revenue (FBR) for proposing its three-year strategic plan to reduce the sales tax from 16 to 10 per cent; corporate tax 35 to 30 per cent and reduction in tax rate for association of persons and individuals.

FPCCI Regional Chairman Sheikh Abdul Waheed Sandal and Vice President Azhar Majeed Shaikh in their joint statement on Wednesday said that the rationalisation is very important factor in the society, which would not only be helpful to bring new people in the tax net but also improve the confidence of people, if it is implemented.

They said that under the three-year strategic plan, the FBR would be able to convince the people to pay the taxes to strengthen the national economy. It is a major step on the sale tax side, they added.

According to this plan the FBR would be able to check the sales.