FBR pledges to look into used computers valuation issue

LAHORE: Chairman Federal Board of Revenue (FBR) Muhammad Javed Ghani has promised to look into the issue of steep hike in valuation of used computers and laptops.

While having a telephonic conversation with President Lahore Chamber of Commerce and Industry (LCCI), Mian Tariq Misbah, Chairman FBR said that sudden hike in the valuation of old computers and laptops will be reviewed in the larger interest of the country.

The Chairman FBR assured of an amicable resolution of the situation after the hike of valuation of used computers and laptops up to 50 to 500 percent. He said that FBR has always worked in the best interests of the country and the stakeholders. He added that the reservations of the traders would also be removed on priority as traders are the backbone of the economy, he added.

LCCI President Mian Tariq Misbah took this issue with the FBR Chairman after having an emergent meeting with the Pakistan Used Computer Importers & Dealers Association led by Malik Kaleem Ahmed, President Hafeez Centre Traders Welfare League, at the Lahore Chamber of Commerce & Industry. LCCI Vice President Tahir Manzoor Chaudhry was also present on the occasion.

He said that recent valuation ruling Bearing No. 1519/21 issued on March 01, 2021, would severely impact the traders. He said the IT sector plays a crucial part in the development of economy and business of the country. "IT is the backbone of every business whether it is industry or health." He said that it has played a vital role in education and work from home during the pandemic and will continue to do so.

Copyright Business Recorder, 2021