ICCI calls for simplification of tax system to increase revenues

February 11, 2019: The Islamabad Chamber of Commerce and Industry (ICCI) has demanded the government to simplify tax system in order to facilitate business growth and augment tax revenues.  

The ICCI organized a consultative session to seek budget proposals from the local business community.

The members said the Federal Board of Revenue has increased property value and government should reduce tax on trade of property from the existing 2 per cent to 1 percent for non-filers and from 1percent to 0.5 percent for filers.                                              

The speakers suggested the State Bank of Pakistan to remove ban on advance payments on imports which are negatively affecting business activities in the country.