News
Fauzia terms imposition of VAT ‘necessary’
RAWALPINDI: Terming the imposition of value-added tax ‘necessary’, Chairperson of the National Assembly Standing’s Committee on Finance, Fauzia Wahab, on Wednesday called for removal of the anomalies attached with the VAT Bill.On the other hand, different trade bodies announced that they would not accept the VAT at any cost.
Speaking at a seminar here, she said that the imposition of VAT would not lead to price hike. “To provide relief to the people, it has become imperative to enhance tax net,” she added.
Wahab further said that the government could get rid of foreign debt by increasing its tax income.
The committee chairman said a proposal is under consideration to declare the food items, drugs and education sector exempted from the VAT.
On this occasion, members of different trade bodies rejected the tax, saying it would cause 20 to 22 per cent hike in inflation, leaving a direct impact on the people.
Courtesy www.Geo.tv