Sunday, September 18, 2011

Tax Returns: Businessmen reject CNIC condition

Tax Returns: Businessmen reject CNIC condition

Published: September 18, 2011

Businessmen say textile sector is teetering on the brink due to high input costs and increase in energy, fuel prices. DESIGN: ESSA MALIK


Industrialists and businessmen have rejected amendments in tax returns, which made it mandatory for registered taxpayers to provide national tax number (NTN) or computerised national identity card (CNIC) number of unregistered traders who deal with them.

In a meeting held at the Faisalabad Chamber of Commerce and Industry on Saturday, industrialists and businessmen said the textile sector was already teetering on the brink of collapse due to high input cost and continuous increase in energy and fuel prices. They said the government had declared the federal budget for 2011-12 free from tax but soon after its announcement, mini-budgets were announced, pushing the industrial sector to the wall.

Published in The Express Tribune, September 18th, 2011.

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