Traders’ coalition demands turnover tax be reduced to 0.5pc

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ISLAMABAD: Traders’ coalition on Saturday demanded that the turnover tax be reduced to 0.5 per cent ahead of the upcoming federal budget, citing economic difficulties.

Speaking at a news conference at the National Press Club in Islamabad, All Pakistan Anjuman-i-Tajiran and Traders Action Committee President Ajmal Baloch said the proposed turnover tax scheme was an excellent initiative that would free traders from “corruption and blackmail”.

He appreciated the efforts of the Prime Minister’s Adviser on Finance Bilal Azhar Kiani and his team for introducing reforms in tax collection.

“For the first time, serious negotiations were held with representatives of small traders, which largely proved successful after nearly one and a half months of discussions,” Baloch said.