960411

Fast favours

5 pc raise in

FST target

RECORDER REPORT

KARACHI: The Federation of Associations Paying Fixed Sales Tax has recommended an increase of 5 percent in the fixed sales tax target in the next year's budget.

The coordinator of the Association, Fudda Husain Somoro, has said in a statement issued on Thursday that the scheme of fixed sales tax should not be wound up as it would adversely affect tax collection target, create discontentment among small-scale industrial units, and encourage corruption.

A delegation of FAST which called on the CBR Member, Sales Tax, Riaz Malik, apprised him of the complications which the withdrawal of the system could cause to small-scale industrial activity in the country. Shahid Hasan Khan, Collector East, and Anwarul Huq, Collector West, were also present during the meeting.

The delegation asked the CBR Member to support the proposal for retaining fixed sales tax in the budget.