FBR chairman assures business community of looking into tax issues

Islamabad: The business community is playing a key role in the development of the economy and assured that he would look into their tax issues for redress, said Asim Ahmad, chairman Federal Board of Revenue, says a press release.

He said that the budget making process is in progress and ICCI should submit its written budget proposals for consideration and incorporation in the final budget. He appreciated the initiative of ICCI for acknowledging the role of top taxpayers in the region and said that it would help promote tax culture. He expressed these views while talking to a delegation of Islamabad Chamber of Commerce & Industry (ICCI) that called on him led by Ahsan Zafar Bakhtawari, President.

Tariq Mahmood Pasha, special assistant to PM on Revenue said that there is a trust deficit between the taxpayers and the tax collectors and stressed the need of taking measures to build confidence between the two important stakeholders of the economy. He said that it is very important to create a relationship of trust and confidence between the tax collectors and the taxpayers in order to enhance the tax base and improve tax revenue of the country. He hoped that ICCI would play a role to achieve this goal.

Speaking at the occasion, Ahsan Zafar Bakhtawari, president, Islamabad Chamber of Commerce & Industry apprised the chairman FBR about the various tax issues of the business community that needed his attention for redress, said that the completion date of construction projects under the amnesty scheme will be expiring on 30 September 2023 and requested that this scheme should be further extended, at least for 2 years to facilitate the completion of ongoing projects under this scheme.

He said that ICCI should be given representation in FBR tax committees that would help build confidence between the taxpayers and the FBR and improve tax culture. He said that ICCI plans to confer awards on the highest taxpayers from every sector of the economy in order to acknowledge their key role in the tax contribution.

He said that the Prime Minister of Pakistan would be invited as Chief Guest to that event. He said that the highest tax collecting officers of FBR should also be conferred awards to recognize their hard work and dedication. He further said that the top 10 highest taxpayers of the country should be conferred civil awards on 23rd March by the President of Pakistan on the recommendation of FBR that would encourage tax culture in the country. He said that a level playing field should be given to businesses on the installation of POS devices.

Faad Waheed, senior vice president ICCI said that due to ban on imports and LCs issue, the industrial activities are badly suffering and stressed that the government should look into this issue to address the concerns of industries. Engr. Muhammad Azhar ul Islam Zafar, Vice President ICCI said that high taxes on the construction sector is affecting its business activities and said that FBR should reconsider them. Khalid Iqbal Malik, Zafar Bakhtawari and Khalid Javed, former Presidents ICCI also shared useful proposals to improve tax base and increase tax revenue of the country.