Rawalpindi - Business community on Friday proposed the Federal Board of Revenue (FBR) to drop the sales tax rate from 17 to 5 percent. Statement released by the Rawalpindi Chamber of Commerce and Industry (RCCI) said that the interest rate should be further reduced to (FIVE OR FOUR) percent. All types of income should be taxed and FBR should focus on new taxpayers rather than tax revenue to avoid burden on existing taxpayers for revenue collection. Tax audits should be abolished owing to the present Covid-19 situation. These demands were unanimously adopted at the Twelfth all Pakistan Chambers Presidents Conference, organized by the Rawalpindi Chamber of Commerce and Industry (RCCI) via video link, with a participation of more than 47 presidents. It was also proposed that the exemption from section 111 (source of investment) of the Income Tax Ordinance should be extended to all sectors of the economy in coming budget (2020-21) and the source of income should not be asked for investment in any sector. Section 165 (A) should be abolished (Withdrawing powers to probe into banking transactions, it will increase harassment and obstacle to documentation). A special Covid 19 concession package should also be announced for women being the representatives of half the population, the declaration demands.