The Pakistan Industrial and Traders Associations Front has appreciated the government for fulfilling demands of traders by granting them a number of concessions.
Commenting on the agreement reached between the government and the small traders over the mechanism to register the businesses for taxation, PIAF Chairman Mian Nauman Kabir said the businessmen only want ease of doing business by removing all official as well as systemic impediments.
Under the agreement, committees had been formed at district and sub-district levels comprising two members from the traders and one from the government, which would assist the registration of small traders for their inclusion in the tax system, which is a right step in the right direction, he said.
“Its good news for the traders that the standard rate of minimum tax has been reduced from 1.5 to 0.5 percent and traders having turnover of up to Rs100 million shall not be required to act as a withholding agent,” he added.
