RAWALPINDI:President Traders Welfare Association, Punjab Sharjeel Mir, on Wednesday urged the federal government to introduce the fixed taxation system for traders instead of imposing on volume.
Talking to reporter, Mir said that during a meeting with the Chairman of the businesses integration committee, Aneeq Khawar, he conveyed the business community concerns over the taxation system to him.
Mir suggested that instead of a tax on volume, a fixed tax should be levied on traders instead of the imposition of taxation.
He said traders were having the volume of one million to 10 million; the tax should be imposed at the rate of Rs 3,000 to 10,000 on them.
He further added that fixed tax should also be imposed on traders with ten million to 100 million assets while those above 100 million; the tax must be assessed on their volume.
Mir quoted the Chairman of the businesses integration committee, Anique Khawar, as saying that traders were the backbone of the national economy, and their suggestion would be discussed in the next meeting while finalizing the tax policy./395