LCCI lauds amnesty scheme

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) on Saturday welcomed the amnesty scheme announced by the Prime Minister aimed at broadening of extremely narrow tax base and termed it a move in right direction.

In a statement issued here, the LCCI President Sheikh Muhammad Arshad and Vice President Nasir Saeed said this big initiative of the government will broaden the tax net, help increase revenues of the government and put the country to path of economic stability.

They said the high taxation had always been a bone of contention between the government and business community and its amicable resolution will certainly help create business friendly atmosphere in the country.

The LCCI office-bearers said that government deserves appreciation for fulfilling its promise and facilitating the private sector in the larger interest of the economy.

 “Once the tax base is broadened to the required levels, the country will get rid of such amnesty schemes in future, therefore, good intention of the present regime should not be translated wrongly. Anything that ensures relief to existing taxpayers should be welcomed by all and nobody should oppose it,” they said.

The LCCI office-bearers said things went wrong when these were politicized instead of looking it in its true spirit. No doubt, an amnesty scheme for non-filers was the last option, but definitely the economic experts of the government had already evaluated it to the maximum, they maintained.

They said there are no two opinions about it that the ultimate beneficiary will be existing taxpayers because with increase in number of new taxpayers the older ones will be getting more respect and prestige by the government.