MQM MNA Syed Hafeezuddin urges speaker to address traders' concerns over advance tax

Syed Hafeezuddin, a member of the National Assembly from MQM Pakistan, has written a letter to Speaker National Assembly Ayaz Sadiq, raising concerns about the growing anxiety among traders regarding the newly implemented advance tax by the Federal Board of Revenue (FBR).

In the letter, Hafeezuddin highlighted the serious concerns expressed by business organizations in Rawalpindi, Karachi, Lahore, Peshawar, Azad Kashmir, and Gilgit-Baltistan. He urged the formation of a parliamentary committee to address the issue, emphasizing the need for a response to the FBR's issuance of notices to traders under this new policy.

The new policy, which imposes an estimated tax on both filers and non-filers, has set a fixed tax of Rs 60,000 per shop per month for traders in bazaars. This tax is to be collected monthly, along with legal fees associated with filing tax returns. The letter notes that many merchants have already begun receiving notices and that legal action has been indicated in cases of non-payment.

Hafeezuddin expressed concern that this tax, coupled with the already high electricity costs and a stagnant business environment, could push traders to close their shops, leading to widespread unemployment and anarchy in the country. He stressed the importance of resolving the issue promptly by bringing it up in Parliament.