The trader community in Peshawar has rejected the government’s move to impose advance income tax collection, terming it as anti-business.
During a meeting of market presidents and officials held under the chairmanship of the Khyber Pakhtunkhwa Trade Association president Malik Mehr Elahi, traders voiced their strong opposition to the new policy.
Traders argued that they have already been paying 10% advance income tax on their electricity bills, and imposing an additional advance income tax is unacceptable.
The business community said the government has introduced the ‘Tajir Dost’ scheme, which has proved to be detrimental to traders.
Traders warned that if the government does not withdraw the ‘Tax Valuation Table Act’, the All Pakistan Anjuman Tajran will announce protests and shutter down across Khyber Pakhtunkhwa province. They vowed to resist any actions by the Federal Board of Revenue (FBR) against traders.
The traders criticized the government for not cutting its own lavish expenditures but instead burdening the taxpayers and poor people.
They demanded the government withdraw the restrictions on the real estate sector and reduce the advance tax rate on medicines, which has led to a surge in prices and caused hardship for the public.
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The business community urged the Prime Minister and other ministers to make significant cuts in their own expenditures, and for all institutions to immediately withdraw their privileges.
They warned that the industry and businesses are on the verge of closure, which will trigger unemployment in the country.
