Traders urged to abide by tax laws

LAHORE: Documentation is a must for economic growth and cooperation of business community is of utmost importance for the government, an official said on Thursday.

“Trust-building between business community and FBR (Federal Bureau of Revenue) would help tackle issues in a winsome manner,” said Asim Majid Khan, Commissioner Income Tax Lahore, speaking at the Lahore Chamber of Commerce & Industry (LCCI).

Khan said everyone should fulfill his/her responsibility by paying taxes, adding that the FBR had taken good measures regarding bank account attachment and audit.

“We are ready to talk with traders at the platform of the LCCI,” Khan said and added that our doors would always remain open for the business community. The commissioner agreed with the LCCI that genuine refunds should be paid as soon as possible.

Speaking on the occasion, Irfan Iqbal Sheikh, president LCCI, said,” Misuse of discretionary powers by the tax officials is hampering the smooth running of businesses and coming in the way of tax net expansion”.