“This would be in the great interest of the economy and the nation,” Zakaria said in a statement here on Wednesday.
FPCCI has already submitted all anomalies and irritants of the budget along with its suggestions to the Federal Government and Chairman, Federal Board of Revenue (FBR), said President,
He assured the Government that FPCCI will closely work with the government’s commission for reviewing FPCCI’s highlighted budget anomalies and irritants and proposals thereon. These include proposals of cutting sales tax to single stage and single digit from existing 17%, non-adjustable, based on no-input-no-refund mechanism.
He expressed the hope that this would instantly result in positive cash flow for business, as being a consumption tax, it directly influences inflation, induces tax evasion, corruption, smuggling etc.
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