Turnover tax 1.25 pc on traders.

A turnover tax of 1.25 percent on traders, distributors and dealers is unbearable as profit margins are barely 2 percent on market sales and the tax will continue to discourage the SMEs from getting registered under the sales tax regime, said Federation of Pakistan Chambers of Commerce and Industry (FPCCI) acting President Shabbir Mansha.

"Taxes on turnover can encourage SMEs to avoid sales tax registration where the government intends...