RCCI appreciates fixed tax regime for small traders

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RAWALPINDI, JUN 21 (DNA) — The business community Tuesday termed the fixed tax regime for small traders a welcome step of the government; however, they demanded to remove the double taxation and anomalies from the fiscal budget 2022-23.

Rawalpindi Chamber of Commerce and Industry (RCCI) President Nadeem Rauf, while talking to media, said that the federal minister for Finance, Miftah Ismail, had announced a balanced budget under a challenging economic environment.

He said that tax exemption on solar panels was an environmentally friendly initiative that would ease the load on power management. Nadeem also urged the government to maintain tax exemption on the IT sector, adding that the IT sector in Pakistan had become an industry.

 “We have to equip ourselves to meet the future challenges of technology, and this is the right time to get the latest information on Robotics, Business Automation, Smart Health Solutions, e-logistics and 3 D Technologies”, he added.

Rauf said that announcement of the setting up of ADRC for resolving tax disputes was laudable; however, the business community has reservations about setting up a Rs100 million limit and mechanism. =DNA