Staff Reporter Rawalpindi
The Rawalpindi Chamber of Commerce has termed the financial budget 2021-22 as balanced and business friendly.
Commenting on Finance Minister Shaukat Tareen’s budget speech, Chamber President Mohammad Nasir Mirza said that a detailed position would be given after reading the budget document.
However, in general, the budget is balanced. The reduction in withholding tax from 17 percent to 12 percent will help in boosting trade activities.
The tax revenue target of Rs 5,800 billion can be achieved only when new taxpayers are added.
We have reservations about proposing a third party audit. He said that relief of Rs. 42 billion in terms of customs duty is welcome. Initiatives such as incentives and rewards for sales tax retailers will increase the number of new taxpayers.