WNAM REPORT: President of the Islamabad Tyres Association (ITA), Riyaz Khan, has said that multiple taxation has become a major obstacle to doing business, and imposing separate taxes on a single business by different institutions is unfair. He stated that numerous taxes and fees at the federal, provincial, and local levels have caused an extraordinary increase in the cost of doing business, due to which small and medium-sized enterprises are facing severe difficulties.
He added that a complex tax system, unnecessary documentation, and the harsh attitude of tax authorities have created fear and uncertainty among the business community, discouraging the launch of new businesses as well as the expansion of existing ones. Riyaz Khan emphasized that the business community wants to play its role in the country’s economic development; however, for this purpose, the presence of business-friendly and stable policies is essential.
