LCCI calls for expansion in tax net

LAHORE: Newly-elected president of the Lahore Chamber of Commerce and Industry (LCCI) Almas Hyder has called for good and friendly mechanism to ensure much-needed expansion in the tax net, a statement said on Saturday.

Speaking at the annual general meeting of the LCCI, he said a friendly mechanism has to be developed to encourage the people to come into the tax net voluntarily.

Hyder suggested that a scheme should be introduced for the business community in which those people should be exempted from audit who have paid 20 percent extra tax than the previous year.

It would not only bring huge number of the people into the tax net, but would also enable the government to meet its revenue targets.