BUSINESS COMMUNITY URGED TO SUPPORT GOVERNMENT OVERCOME CHALLENGES

The Financial Daily 16/07/19.
The Union of Small and Medium Enterprises (UNISAME) urged the business community to support the government to overcome challenges facing the country and not go on strikes which are damaging relationships and the economy.
President UNISAME Zulfikar Thaver whilst appreciating the government’s point of broadening the tax net, accountability and transparency in transactions urged the government to sit with the trade leaders and accommodate their point of view regarding 17% sales tax and indicating CNIC number on invoices exceeding Rs 50000 amount and come to an understanding acceptable to both.
UNISAME experts suggested gradual reforms and not overnight implementation which are disturbing trade. Besides the Federal Board of Revenue needs to adopt friendly policies and consultations with the business community at different levels.
Thaver said it is very important for traders to pay taxes and urged the traders to go for documentation. It is high time the traders change their habits of not declaring their transactions, profits and not paying full taxes. There can be no compromise regarding paying taxes but the rate and income brackets need to be based on equity and fairness.
Thaver said it is very unfortunate that different mafias are operating in the economy and called upon the trade leaders to guide the entrepreneurs to co-operate with the government to bring about reforms for the betterment of all.
UNISAME has offered to intervene and sit with the government officials and trade leaders to resolve the matter in the best interest of the country.
The Unisame Council has nominated very experienced members from taxation, finance, commerce, trade and industry to sit with trade leaders of shopkeepers, retailers, wholesalers and SME manufacturers to understand their point of view and reconcile misunderstandings and differences in the best interest of all.

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