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SCCI Urged for Special Tax Concessions in Upcoming Budget

Peshawar: According to a news source, Sherbaz Bilour, the president of the Sarhad Chamber of Commerce and Industry (SCCI), has encouraged the federal government to foster a business-friendly atmosphere by including incentives for the business community in the 2018 budget.

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The SCCI emphasized that the merchants should not be subject to taxes and that their property rentals, electricity bills, and lump sum refund on total taxes should be waived in each case.

According to Bilour, the SCCI is seeking financial assistance, particularly for companies that have been negatively impacted by the Covid-19 outbreak. According to the SCCI, this will foster an atmosphere that is good for business and competitive for both domestic and foreign investors.

Read: GST Reduced on Petroleum Products

In order to maintain the competitiveness of local businesses and investors and to create income, Bilour also emphasized the necessity to reassess the special exemptions provided to international investors. He also suggested special tax reductions with a ratio of 15 to 20%.

He said that the National Database Registration Authority’s (NADRA) data had been suggested for use in locating potential taxpayers by the SCCI.

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