Abolish banking transactions tax: traders

LAHORE: Anjuman-e-Tajiran President Khalid Pervaiz demanded the government to abolish the withholding tax from banking transactions, besides withdrawing the amnesty scheme and stop harassing the taxpayers and arrest the smugglers and tax evaders; otherwise, the traders will observe shutter down strike.

Addressing a press conference along with the representatives from all markets of the city, he said the trader community rejected the amnesty scheme as it had rejected the previous scheme. He said the government instead of giving a safe passage to black money holders, should nab them. He said the traders were asking the government for long to abolish the withholding tax on banking transactions.

He said the government rather to give relief to the Pakistanis has launched amnesty scheme for the looters and assets holders. Khalid Pervaiz said the traders across Pakistan decided to observe shutter down strike unanimously if their demands of withdrawing the amnesty scheme and abolition of withholding tax on banking transactions would not be entertained. He said it was unjust to allow the thieves to whiten their ill-gotten money through amnesty scheme.

Anjuman-e-Tajiran President said that historically no country had progressed when the leadership was a businessman and same is the case with Pakistan. Majority of the traders already have started their businesses on cash transactions instead of banking instruments due to high withholding tax.

He said it was unjust to pay tax on hard earned income while the person had already paid taxes on that income. The pensioners, widows and children were paying 0.06 percent tax on banking transactions while they were not liable to pay tax. Furthermore, the return filing system is much complicated that commoner could not file their income tax return correctly without the help of any expert, he observed.

Khalid Pervaiz said the rulers failed to protect its trade boundaries while giving a chance to India and China to capture Pakistan through trade, he alleged. He warned the government not to expect any support from trader community in the forthcoming general election as it failed to protect their interests. He said the governments were established with the support of the trader community while all legislation was made to protect the thieves.

He also demanded the Chief Justice of Pakistan to take action on it to provide relief to the people. Later, the Anjuman-e-Tajiran observed protest outside the Lahore Press Club. The protest was followed by traffic jam and public woes on the adjacent roads.