Business community resents imposition of luxury tax in Islamabad - Press Release issued by Islamabad Chamber of Commerce and Industry.

Islamabad -- June 19, 2020 (PPI-OT)

Following is the text of press release issued by Islamabad Chamber of Commerce and Industry (ICCI)

Quote

The business community at Islamabad Chamber of Commerce and Industry has resented the proposal for levying a luxury tax in Islamabad Capital Territory and has called upon the government to immediately withdraw it as its imposition only in Islamabad would be a discriminatory treatment with the citizens of the federal capital.

Muhammad Ahmad Waheed, President Islamabad Chamber of Commerce and Industry has said that the government had claimed of presenting a tax-free budget as no new tax was introduced in the Federal Budget 2020-21. However, contrary to its claim, the government has proposed a luxury tax for ICT in the Finance Bill 2020, which was totally unjustified. He said that due to the Covid-19 pandemic, citizens of Islamabad were already facing great problems and in these circumstances, imposing luxury tax on them would add to their problems. He said that the citizens of Islamabad were already paying 6 types of taxes, therefore, subjecting them to a luxury tax would be a great injustice to them.

ICCI President said that MCI has already made 300 percent increase in property tax in Islamabad and in this situation, imposition of luxury tax would be a double taxation on them that was against the basic rights of citizens. He said that other major cities of the country including Karachi and Lahore have bigger houses and farmhouses than in Islamabad and if no luxury tax was imposed on them then what was the justification of imposing such a tax only in Islamabad.

He said that in the current scenario, the government...