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Businessmen urged to avail tax amnesty

RECORDER REPORT

ISLAMABAD: The business commnunity should avail the opportunity offered under the recently announced tax amnesty scheme.

This was stated by Income Tax Commissioner of Islamabad Zone, Mohammad Arif Asim, while addressing a gathering of the members of the Rawalpindi Chamber of Commerce & Industry here on Saturday. He said that this was the best chance to declare assets by paying 10 percent income tax, failing which, after April 30, the defaulters would have to pay 36 percent income tax along with penalties.

The President, RCCI, S.M. Naseem asked him to help the business community to avail this opportunity. He urged the tax official to solve the problems faced by the business community as the corporate sector pays a large portion of taxes.

Asim said that higher revenue collection and lower expenditure brought about the economic revolution in the USA and EU countries. He promised to look into the problems of traders relating to income tax.