LAHORE, July 11: The LCCI has demanded withdrawal of withholding tax on cheques for withdrawal of more than Rs25,000 from banks. LCCI president Misbahur Rehman, senior vice-president Sohail Lashari and vice-president Sheikh Arshad said in a statement here on Monday that the imposition of the tax had put the business community on the horns of dilemma. It was forced to conduct its monetary transactions through the banking system on account of dangers involved in cash handling due to the law and order situation but was being asked to pay tax merely for doing so.

They said all business-related decisions were taken in consultation with the representatives of the community in civilized countries, but neither the chambers nor the trade associations had been consulted before the imposition of the unjustified tax on bank transactions.