,,, President FPCCI Zakaria Usman has called for immediate constitution of the
In a statement here on Wednesday, FPCCI Chief said the business community has been facing many difficulties due to, what he said, some harsh and irritating provisions of the Finance Bill. The removal of the anomalies will bring a positive impact on the national economy.
He said the new concept of 'alternative corporate tax' is very challenging for implementation. It will lead to complications between the tax-payers and the collectors. A recent
President FPCCI said that 5 percent tax levied on bonus shares should be removed from the statute because the bonus is derived from the retained earnings of the company which have already been taxed. This tax will tantamount to double taxation.
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