Traders Demand a decrease in WHT

MG News | May 08, 2017 at 10:36 AM GMT+05:00

0:00

Islamabad Chamber of Small Traders (ICST) on Sunday demanded from government to withdraw With Holding Tax on Banking Transactions in the upcoming budget. The ICST related that ever since the tax imposition, alternate methods of money transfer such as parchi, trade in dollars and parallel currency has been utilized by the local businessman, traders and dealers.

Although, current administration ever since coming into office has imposed taxes amounting to more than a trillion dollars, WHT on banking transactions has received severe criticism from all financial sectors. The ICST also mentioned the determination of Finance Minister Ishaq Dar has been plausible but concrete steps need to be taken for removal of these taxes from next budget.

The ICST stated that the liquidity crunch faced by banks was due to imposition of WHT.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	156,177.82 367.85M	-0.00% -3.12
ALLSHR	95,630.38 1,498.37M	-0.06% -60.44
KSE30	47,678.47 206.79M	-0.08% -35.92
KMI30	229,682.22 174.86M	-0.02% -39.87
KMIALLSHR	64,366.76 638.47M	-0.08% -53.31
BKTi	41,922.80 89.51M	-0.11% -46.72
OGTi	31,735.79 16.87M	-0.80% -255.97

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	118,065.00	118,295.00 116,115.00	2240.00 1.93%
BRENT CRUDE	67.88	68.01 67.50	-0.07 -0.10%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-0.40 -0.47%
ROTTERDAM COAL MONTHLY	93.50	93.50 93.50	0.15 0.16%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	63.61	63.82 63.24	-0.44 -0.69%
SUGAR #11 WORLD	16.23	16.59 16.23	-0.33 -1.99%