ICCI calls for simplification of tax system to increase revenues

MG News | February 11, 2019 at 12:39 PM GMT+05:00

0:00

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.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	187,688.16 462.47M	0.35% 654.90
ALLSHR	112,627.69 1,066.28M	0.24% 272.05
KSE30	57,478.24 133.38M	0.39% 224.59
KMI30	266,443.18 171.92M	0.80% 2103.94
KMIALLSHR	72,592.65 594.36M	0.43% 312.04
BKTi	53,552.73 28.61M	-0.31% -167.51
OGTi	39,279.97 12.36M	0.20% 77.32

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	89,580.00	90,425.00 89,385.00	-650.00 -0.72%
BRENT CRUDE	64.40	65.38 63.92	-0.84 -1.29%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	-3.10 -3.45%
ROTTERDAM COAL MONTHLY	98.50	98.50 98.20	-0.25 -0.25%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	59.80	60.82 59.31	-0.82 -1.35%
SUGAR #11 WORLD	14.92	14.96 14.70	0.18 1.22%