LAHORE: Tax expert Asif Kasbati has said that reports have been received that computerized national identity cards (CNICs) of Hajj applicants were misused by the suppliers against supplies to unregistered persons.
He was commenting on withdrawal of the condition to provide information of the computerized national identity card numbers or national tax numbers (NTNs) on supplies to unregistered persons by the government in Finance Bill 2022.
Speaking in a panel discussion of a post-budget conference 2022 organized by Institute of Chartered Accountants of Pakistan (ICAP) on Monday, he said the suppliers were using CNICs of guards and drivers for the same purpose. Therefore, he said, the waiver of the CNIC condition is reasonable.
However, he added in the same breath that it also suggests the government’s claim of documentation of economy and broadening of tax base at the end of the day. He has also sought deletion of section 70(4) of Sales Tax Act.
Former President ICAP Naeem Akhtar Sheikh objected to the imposition of minimum tax, saying that small traders like barbers and tailors would be hit hard by this step of the government as their liability would increase by 100 percent.
Instead, he proposed, the government should introduce four to five slabs to ensure tax break to small traders. Asim Zulfiqar, Adnan Mufti and Ali Latif were also part of the panel discussion.
Copyright Business Recorder, 2022