Focus demanded on improving lot of SMEs in coming budgetMarch 10, 2013 Off By Web Desk
Karachi: The Union of Small and Medium Enterprises UNISAME has been invited to submit budgetary proposals to the Small & Medium Enterprises Development Authority SMEDA which in its role as an SME development agency proposes fiscal measures and instruments to the Federal Government for creating a conducive business environment for SMEs.
President UNISAME Zulfikar Thaver said SMEDA each year conducts a round of consultation with different stakeholders for obtaining views/inputs related to the SME sector for furnishing recommendations for inclusion in the Federal Budget for the year 20132014. These proposals are developed in consultation with SMEs, Chamber of Commerce & Industry and Trade Associations.
He requested the stakeholders to highlight the problems being faced by the SMEs regarding taxation, tariffs, regulations or any other issue and provide feedback and send proposals and suggestions for the forthcoming Budget by March 25, 2013 for onward submission to the ministry of finance through SMEDA.
UNISAME believes in lower taxes and higher collection, income tax on agriculture rather than heavy taxes on farm inputs, tax exemption limit be raised to Rs 600000, minimum wages be raised to Rs 12000 per month.
UNISAME stresses the need for free education, free medical care, exemption of duties on import of machinery, raw material and import of technology. Incentives for new industries of import substitution items and innovative industries and services should be given. The sales tax refund system be made efficient. The income tax returns filing system be simplified and income tax payers be facilitated and respected and income tax appeals be admitted and disposed of promptly.