ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) has called upon the Federal Board of Revenue (FBR) to arrange early clearance of all outstanding tax refunds of business community as keeping such claims pending would hurt the confidence of businessmen in the tax machinery.
Muzzamil Hussain Sabri, President, ICCI said that tax refund claims of the traders and industrialists were lying pending in FBR and urged the tax authorities to take measures to clear these outstanding claims timely.
He said all tax refund claims should be cleared within 3 months of the filing of a claim.
He stressed that there should be a level-playing field in this regard and FBR functionaries who fail to release the valid refunds of the businessmen should be held accountable as accountability would force them to expedite the payment of refunds.
He emphasized that FBR should focus on developing a fair taxation system to end all existing distortions & discriminations in tax regime.
He said that FBR should ensure timely release of payment against all valid refund claims that would improve the confidence of taxpayers and contribute positively to increasing the tax revenue of the country.
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