20000414

Exemption of

chambers from

IT recommended

NAYYAR ZUBERI

KARACHI: The Sukkur Chamber of Commerce and Industry (SCCI)

has recommended to the government that the income tax exemption to chambers and associations be restored.

The chambers and associations used to enjoy income tax exemptions since the inception of Pakistan, especially because of their non-profit making posture, the SCCI said.

However, in 1993-94, the chambers services and property income were made liable to tax. Subsequently, from the assessment year 1994-95, the total income from all sources of chambers was subjected to tax

The chamber claimed that this created various problems for chambers and associations. The chamber basic source is subscription which is hardly sufficient to meet even the administrative expenses of the organisation, especially in the context of galloping inflation.