Haroon urges Lahore traders to make VTCS a success
Prime Minister’s Special Assistant on Revenue Haroon Akhtar Khan has urged the traders that now it is high time for traders to opt for the Voluntary Tax Compliance Scheme it and play their role for growth and development.
“After this scheme is over, the withholding tax on banking transactions will again be 0.6 per cent. Law will come in to action, notices will be served on the non-filers after receiving information of levy of 0.6 per cent tax on banking transactions and those non-filers will be subjected to 35 per cent tax and penalties. While if any such account proved ‘Benami’ then its amount will be confiscated and a law in this regard will be introduced before next budget,” Haroon Akhtar Khan said while addressing gathering of officebearers and members of Lahore Tax Bar Association, Lahore Chamber of Commerce and Industry and Pakistan Anjuman e Tajran Lahore.
The event was organized by the Regional Tax Office (RTO) Lahore of the Federal Board of Revenue and was addressed among others by President Anjuman-e-Tajran Lahore Naeem Mir, Lahore Chamber of Commerce and Industry (LCCI) Vice President Nasir Saeed, Muhammad Ali Mian, MNA Pervez Malik, Tax Bar Association President Mansha Sukhera, Ch Qamar-Uz -Zaman and others.