Govt urged to introduce single-digit GST

ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) in a pre-budget consultative session on Saturday called urged the government to introduce single-digit general sales tax in the next budget.

The session was organised to seek budget proposals from the local business community.

ICCI President Ahmed Hassan Moughal presided over the session, while Rafat Farid, senior vice president of ICCI, Naeem Siddiqui, chairman of the ICCI Tax Committee, and others were present on the occasion.

Addressing the session, Moughal said that the prevailing complicated and difficult tax system was a major hurdle in the promotion of tax culture and improvement in revenues.

He urged the government to develop a simplified tax system that should facilitate the growth of business activities and increase the tax revenue.

The tax rates were quite high in Pakistan that should be rationalised to help broaden the tax base, he added.

Farid said that there were different tax rates at federation and provinces that were creating problems for the business community and emphasised that the government should introduce a uniform tax system across the country.

The government should ensure better benefits, incentives and respect for the taxpayers that would help expand the tax base, he added.