Govt urged to review tax on rental income

ISLAMABAD (Online)- President Islamabad Chamber of Commerce & Industry (ICCI), Muhammad Ijaz Abbasi has urged the government to reconsider tax on the rental income and termed it unjustified. The President ICCI in a statement issued here said that a large segment of people have shown great concern on it and demanded of the government to bring the rates down. He suggested that tax on rental income may be charged 2.5%, 5% and 7.5% on the proposed slabs, instead of 5%, 10% and 15%.  Abbasi said that in the budget, policy of milking of same cow has been adopted, whereas initiative should be taken to broaden the tax base, instead of putting further burden on the existing taxpayers. Muhammad Ijaz Abbasi stated that Federal Excise Duty on the cement is up by Rs.150/ton, which will also increase the price of cement and eventually the cost of construction. He said that cost of different types of materials for the construction is already on the rise and increase in the Federal Excise Duty will further amplify the cost of construction. The business community had proposed to bring down the General Sales Tax to 10% for reducing the prices of products for the consumers, whereas rise of GST to 16%, will put the burden on the consumers and the business community. He said that government should reconsider the increase in GST and should bring it down. Ijaz Abbasi said that prices of gas and electricity are being enhanced substantially, which will considerably up the cost of products and Pakistan's exportable items will face more tough competition in the international market.   Muhammad Ijaz Abbasi proposed that 35% LC margin should be reduced to 10 percent for non-essential items and 0 percent for industrial raw material. He said that State Bank of Pakistan should review the decision for reducing the LC margin rates for the growth of business activities. PTCL customers' facilitation camps Pakistan Telecommunication Company Limited (PTCL) Business Zone North has chalked out a programme of holding Customers Facilitation Camps at different places in the twin cities for keeping closed contacts with its valued customers.  This is a plan of PTCL to provide all kinds of its services and facilities at the doorsteps of customers of the twin cities. The Customers Facilitation Camps were held at G-11 Markaz Islamabad and New Rabi Centre Falakabad Plaza Murree Road Rawalpindi. PTCL customers came in the Customers' Facilitation Camps (CFC) for redressing of their problems related to telecom services. They also placed orders for various services and products like new telephone connections, Wireless Local Loop (V-fone), Broadband, DSL and Student Package Broadband.  The customers availed the opportunity to resolve their problems in the same spot regarding faulty telephones, installation of new phone connections. , DSL, non-delivery of bills and excessive billing etc.

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