RCCI President asks traders to take benefit of VTS
President Rawalpindi Chamber of Commerce and Industry (RCCI) Mian Humayun Pervaiz has said that it is a high time for the traders to avail the benefits of Voluntary Tax Scheme (VTS). He said, this is a golden opportunity for the traders either they are filers or non-filers.
He said, the scheme announced by the government is a gift of this year and all the traders should file their tax returns and take benefits from the scheme. He urged the traders to pay a little tax for the country. This scheme will give a chance to the traders to become tax payer and correct accounts.
The scheme is favorable for the traders as it save lot of time from previous and future audits and penalties, he added. He said, the traders have been provided simplified one page form to file their returns by February 29 to be benefited by the amnesty provided by the Federal Board of Revenue.
President RCCI said that traders can get advantage of exemption from total audit for four years and non-filers should take maximum benefit of it. He said, the scheme introduced by the government is an effort to increase revenues and broaden the tax net.