The All Pakistan Anjuman-e-Tajiran has rejected the finance minister’s decision to extend period for another month to collect withholding tax on all bank transactions at the present ratio of 0.3% till October 31 instead of reversing the original ratio of 0. 6%. APAT leadership, while addressing the press conference at Lahore Press Club, announced that traders would besiege FBR Headquarters in Islamabad on October 13 for indefinite period until the government withdraws unjustified WHT on banks transactions. APAT president Ajmal Baloch and central general secretary Naeem Mir said that traders would neither observe strikes nor hold protests as four strikes and countrywide protests failed to create any impact on the government which just extended the date for reduced withholding tax of 0. 3% instead of withdrawing the WHT. Now the time has come to do or die as government is not ready to listen traders issues. Taxes are, of course, a sensitive subject for the ruling party. Back in the day the Sharif brothers made loud claims about expanding the tax net, along with finally ending the power crisis and winning the war on terror. Half way through its tenure, it has little to do with toggling the war, which is going well, but it has failed to honour the other two promises. And while it can wriggle around the power issue, it has little or no justification on the tax front. There are no infrastructural setbacks, just a lack of political will. That is precisely why the finance minister must deal with threats of protests firmly. The government has already exhibited considerable flexibility on the issue. Trade bodies must be made to understand that taxes will have to be paid. But for the exercise to be fruitful it will have to be wholesome. The government must, finally, overcome its paralysis and raise conventional taxes as well. The matter is central to economic growth, especially since exports do not contribute much to the exchequer either. Hopefully the government will be able to drive in its point this time, and there will be no unnecessary sit-ins outside the FBR building.
pk.shafaqna.com
