LCCI welcomes PM’s amnesty scheme

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) on Saturday welcomed the amnesty scheme announced by the prime minister that’s aimed to broaden the tax base and termed it a move in right direction.

LCCI President Sheikh Muhammad Arshad and Vice President Nasir Saeed said that this big initiative of the government would broaden the tax net, help increase revenues of the government and put the country on a path of economic stability.

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

The LCCI office bearers said that the government deserves appreciation for facilitating the private sector in the larger interest of the economy. They said it is not for the first time that the government has announced tax amnesty scheme, as in the past, the economic wizards of the country had already given the same solution to overcome economic woes.

“Once the tax base is broadened to the required levels, the country would get rid of such amnesty schemes and therefore, good intention of the present regime should not be translated wrongly. Anything that ensures relief to the existing taxpayers should also be welcomed by all and none should oppose it,” they said.

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 that there are no two opinions about the scheme that the ultimate beneficiary would be the existing taxpayer, because with the increase of new taxpayers the older ones would be getting more respect and prestige by the government.

He said the LCCI is a true representative of the private sector and believed that being an engine of growth, the business community had every right to have facilitation from the government.

They hoped that the government would continue to take such initiatives in the larger interest of the economy and would take the business community on board while formulating trade and industry related policies.

 

 

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