LCCI chief proposes tax cut

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) president Kashif Anwar has called for reducing corporate tax rates to 15 percent along with easing energy rates in a meeting of Senate’s Standing Committee on Finance and Revenue, a statement said on Tuesday.

The committee, chaired by Senator Saleem Mandvi Wala and Sherry Rehman, received proposals from the Lahore Chamber, representatives of Faisalabad, Karachi, Islamabad and other chambers, along with a delegation of Pakistan Business Council.

Anwar suggested expanding the tax base by bringing individuals with industrial or commercial electricity or gas connections into the tax net. He also recommended charging a 25 percent income tax on the bills (electricity/gas) of non-filers and emphasised a need for a National Tax Number (NTN) for new commercial electricity/gas connections.