LAHORE: The central body of traders across Pakistan have announced mass protests and boycott of banks against the controversial withholding tax.
Anjuman-e-Tajiran-e-Pakistan President said that the traders will stage a protest on September 2 while the boycott of banks will be observed from September 4.
A country wide strike against the tax will be observed on September 9.
Earlier in July, the federal government’s decision to impose a withholding tax of 0.6% on daily banking transactions amounting to over Rs50,000 sparked protests across the country. The levy is likely to affect traders and businesses. As a result, incensed traders have held demonstrations to raise their objections against the implementation of the tax.
The tax rate was initially fixed at 0.6 percent, which was reduced to 0.3 percent till September 30 after the protest by the trade and business community.
