RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) Tuesday urged the federal government to abolish the text of section 203 A of the Income-tax ordinance 2001 through Presidential ordinance.
Chairing a meeting of various trade organizations of the city here at the Chamber office, President RCCI Nasir Mirza observed several legal ambiguities and inconsistencies in the fiscal budget 2021-22, could lead to business closures.
He said that Finance Minister Shaukat Tarin in his budget speech had introduced a self-assessment scheme while on the other hand, FBR was sending notices to the business community under section 203 A .
Mirza asked the government to take all stakeholders on board to resolve sales, income tax, and customs rules and regulations issues.
He said that a committee was being constituted at the Chamber and Traders Associations levels and the Charter of Demand would be placed before the government.
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