Salim Ahmed
Lahore
The newly elected President of the Lahore Chamber of Commerce & Industry (LCCI) Almas Hyder has called for good and friendly mechanism to ensure much-needed expansion in tax net. It would encourage people to come into the tax net voluntarily.
He was speaking at the Annual General Meeting of the Lahore Chamber of Commerce & Industry. Newly elected Senior Vice President Khawaja Shahzad Nasir, Vice President Fahim-ur-Rehman Saigol, outgoing President Malik Tahir Javaid, Senior Vice President Khawaja Khawar Rasheed, Vice President Zeshan Khalil and Election Commissioner Sohail Lashari also spoke on the occasion.
Almas Hyder said that a friendly mechanism has to be developed to encourage the people to come into the tax net voluntarily. He suggested that a scheme should be introduced for the business community that those people would be exempted from audit that have paid 20% extra tax than the previous year. It would not only bring huge number of people into the tax net but would also enable government to meet its revenue targets.
The LCCI newly elected president urged the Chairman of Federal Board of Revenue (FBR) to extend the date for the filing of income tax returns till October 30th as business community cannot file their returns due to elections of trade bodies, problems in online system and various other reasons. He said that an extension in the date of filing of returns would not only facilitate the business community but it would also strengthen public-private partnership.
Almas Hyder mentioned that no land is available in Lahore for industrialization. Two years ago, he said, LCCI identified 66,000 acres of land in south and north for establishment of new industries but yet no notification has been issued in this regard while file is lying in the office of Chief Minister Punjab. He said that notification should be issued immediately.
He said that population of Lahore is over 10 million but infrastructure is not up to the mark.
He said that airport in Lahore is smaller than the airports in rural areas of China. Likewise Lahore Railway station is still there where it was in 1947.
He urged the government to plan for immediate expansion in Lahore Airport and Lahore Railway station as these are the most important sources of communication. He also called for establishment of more hotels of international standards to boost the hospitality industry.
Almas Hyder also called for improvement in ease of doing business saying that international ranking of Pakistan in ease of doing business index is 147 that should be a matter of concern.
from Daily Pakistan Observer – https://ift.tt/2NcNPMM
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