LCCI hails extension in tax amnesty scheme
Lahore Chamber of Commerce and Industry (LCCI) Thursday welcomed the extension in the deadline of Voluntary Tax Compliance Scheme (commonly known as tax amnesty scheme).
Talking to APP here, the LCCI President Sheikh Muhammad Arshad and Vice President Nasir Saeed termed the extension a step in the right direction that would not only help broaden the tax base but also increase the government's revenues and subsequently stabilized the country economically.
To a question, they said that tax col- lection mechanism and related issues had always been remained a bone of contention between the government and business community, but this time, its amicable settlement would improve the business and investment environment.
Sheikh Arshad said, "The government deserves appreciations for fulfilling promise with trading community and taking another good step for the overall economy."
To another question, he was of the view that this scheme would broaden the tax base substantially and in future the county would not be in need of launching any more tax amnesty schemes. He added that government's business friendly measures should not be treated or perceived negatively. "Any initiative aimed at provision of relief to the tax payers should be appreciated and welcomed duly instead of resorting to political point scoring," he maintained.
While, Nasir Saeed remarked that tax amnesty scheme, no doubt, was a last option to bring the non-filers into tax system but the policy makers would have taken this step after thorough working and considerations.
They said that Lahore Chamber of Commerce and Industry was the real representative of the business and traders community and it believed that relief package was the ultimate right of the businessmen and industrialists.
Lahore Chamber's office-bearers expressed the hope that government would continue to take such business and investment friendly steps in future as well. Meanwhile, Speaker National Assembly Sardar Ayyaz Sadiq Thursday hinted at new legislation to help protect special persons saying that they are an assets of the country and all segments of society are duty bound to act for them. He was speaking at the 12th annual mela of Lahore Businessmen Association for Rehabilitation of Disabled (LABARD) here at Ghulam Gilani Park (Race Course Park).