ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged Finance Minister Shaukat Tarin to direct the Federal Board of Revenue (FBR) to do away with notices.
In a letter to the finance minister, the FPCCI has reminded the finance minister that despite his commitment to the business community during his visit and meeting with the FPCCI, the FBR has flooded notices and is harassing the business community.
According to the FPCCI, the FBR has not honoured your commitment to withdraw and stop issuing further notices to the business community.
The FPCCI is of the view that the FBR collects 97 percent of the total taxes at import and consumption points included by withholding taxes.
The FBR is hardly collecting two-three percent of the total tax collections including resorting to harassment by issuing notices. The question arises as what is the prudence in issuing stock of notices without pre-determination of the reasons before issuance of notices by the tax collecting machinery.
“We do not support not to issue notices in cases where it is likely to generate revenue. That also should be contingent upon promised position that in such cases third-party audit shall be carried out by independent and exclusive to conflict of interest auditors will be engaged to ensure that justice is being done to those who are sources of generating taxes for the development and non-development needs of the country,” said the FPCCI.
The finance minister has been asked to go for audit of the party(ies) through third party as proposed by the Finance Ministry.
Copyright Business Recorder, 2022
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