Lahore Chamber of Commerce and Industry on Tuesday, while welcoming the appointment of Salman Siddique as Chairman Federal Board of Revenue, has urged him to convene a meeting of all the chambers and trade bodies, as there exists a lot of confusion in the business circles about the proposed Reformed General Sales Tax.
LCCI office bearers, President Shahzad Ali Malik, Senior Vice President Sheikh Mohammad Arshad and Vice President Sohail Azhar, in their joint statement, said that Salman Siddique is a seasoned bureaucrat and enjoys excellent relations with the business community. They hoped that Siddique's appointment would help simplify complex and complicated taxation procedures that have been creating troubles for businessmen for last many years.
They invited the attention of the newly appointed chairman towards the long-standing demands regarding broadening of tax net, implementation of self-assessment in letter and spirit and elimination of corruption in Federal Board of Revenue. Elaborating, LCCI office-bearers said the chamber, for last many years, has been calling for broadening of tax net instead of squeezing the existing taxpayers.
They said that there is a dire need for implementation of self assessment in letter and spirit as the very idea has been tarnished due to repeated changes at the top level in Federal Board of Revenue, and now, being misused by the officers concerned. They also urged FBR chief to look into the matter of corruption that has played havoc with the institution, which has all the abilities and the capabilities to turn the economy around.
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