Our suggestion is to collect tax only once at the time of issuing the NTN
Islamabad()
President of Islamabad Tyres Association (ITA), Riaz Khan, has termed the multiple types of taxes as the biggest hurdle to business growth and urged the government to introduce effective tax reforms. He said that numerous taxes, complex regulatory requirements, and repeated fees have not only increased the cost of doing business but have also shaken the confidence of new investors.
He added that every institution has imposed its own taxes, whereas it should be ensured that when an NTN is issued, a single tax is collected at that stage so that new institutions do not keep forcing businesses to pay additional taxes repeatedly. Improving the current taxation system can help create a business-friendly environment, which will accelerate economic activities and generate employment opportunities. A uniform and simplified tax policy will also benefit imports, exports, and the local industry.He urged the government to reduce the tax burden and simplify regulatory procedures.
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