Traders demand reduction in tax on bank transactions


ISLAMABAD, MAY 7 (APP): Islamabad Chamber of Small Traders Sunday
said withholding tax on bank transaction should be abolished or reduced in the upcoming budget for the fiscal year 2017-18.
“Authorities should consider abolishing the WHT on bank transactions or
reduce it to acceptable limits,” Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt in a statement issued here.
He said that determination of Finance Minister Ishaq Dar on
the issue of WHT was laudable but some reservations of wholesalers and retailers must be taken into account, adding that banks were also facing severe liquidity problems after imposition of WHT which call for some steps.
He was of the view that government should prefer imposing direct taxes
and improve export and investment situation.