LCCI slams development cess

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has urged the Punjab government to withdraw Punjab Infrastructure Development Cess (PIDC), as it is a dual tax and distressing the industries in the province, a statement said on Tuesday.

LCCI president Malik Tahir Javed, senior vice president Khawaja Khawar Rasheed and vice president Zeshan Khalil said that PIDC is a double taxation, as 1.05 percent tax is being charged on imported consignments in Sindh and than 0.90 percent at dry ports in Punjab on the pretext to provide resources for maintenance, development and improvement of infrastructure required to cater to load of goods traffic and to deal with other purposes, but ground realities are quite different, it added.

The LCCI office-bearers said imposition of this cess is discriminatory and will further burden up existing taxpayer instead of broadening the tax net. The trade and industry would be hit by the move and it would result in increased input cost, they added.