AIRLINK 175.65 Decreased By ▼ -1.91 (-1.08%)
BOP 11.01 Decreased By ▼ -0.04 (-0.36%)
CNERGY 8.33 Increased By ▲ 0.16 (1.96%)
FCCL 47.10 Decreased By ▼ -0.22 (-0.46%)
FFL 16.02 Decreased By ▼ -0.10 (-0.62%)
FLYNG 27.02 Decreased By ▼ -0.33 (-1.21%)
HUBC 142.45 Decreased By ▼ -4.46 (-3.04%)
HUMNL 13.37 Decreased By ▼ -0.14 (-1.04%)
KEL 4.45 Decreased By ▼ -0.05 (-1.11%)
KOSM 5.91 No Change ▼ 0.00 (0%)
MLCF 61.50 Decreased By ▼ -0.52 (-0.84%)
OGDC 226.31 Decreased By ▼ -8.37 (-3.57%)
PACE 5.80 No Change ▼ 0.00 (0%)
PAEL 44.79 Decreased By ▼ -1.62 (-3.49%)
PIAHCLA 17.93 Decreased By ▼ -0.19 (-1.05%)
PIBTL 10.45 Decreased By ▼ -0.12 (-1.14%)
POWER 12.10 Increased By ▲ 0.11 (0.92%)
PPL 185.99 Decreased By ▼ -5.81 (-3.03%)
PRL 37.25 Decreased By ▼ -0.07 (-0.19%)
PTC 24.14 Increased By ▲ 0.94 (4.05%)
SEARL 99.95 Decreased By ▼ -0.94 (-0.93%)
SSGC 38.40 Decreased By ▼ -1.31 (-3.3%)
SYM 14.89 Decreased By ▼ -0.14 (-0.93%)
TELE 7.75 Decreased By ▼ -0.09 (-1.15%)
TPLP 11.10 Decreased By ▼ -0.01 (-0.09%)
TRG 66.00 Decreased By ▼ -1.29 (-1.92%)
WAVESAPP 11.00 Decreased By ▼ -0.35 (-3.08%)
WTL 1.36 No Change ▼ 0.00 (0%)
YOUW 3.82 Increased By ▲ 0.05 (1.33%)
BR100 12,826 Increased By 19.4 (0.15%)
BR30 38,861 Decreased By -842.2 (-2.12%)
KSE100 118,792 Decreased By -146.5 (-0.12%)
KSE30 36,779 Increased By 22.6 (0.06%)

LAHORE: All Pakistan Textile Mills Association (APTMA) Chairman Kaan Arshad has condemned the Federal Board of Revenue’s (FBR) recent demand of submitting affidavits regarding buyers and sellers, saying that registration of FIRs on this account is unlawful.

He was addressing a press conference at APTMA Lahore office. Senior Vice Chairman APTMA Jamil Qasim, Vice Chairman Shehzad Ahmed Sheikh, Chairman South Zone Naveed Ahmed, former Chairmen Abdul Rahim Nasir and Adil Bashir besides Secretary General Shahid Sattar Mohammad Raza Baqir were also present on the occasion.

Arshad said the FBR’s requirement for member mills to submit affidavits guaranteeing that all buyers and suppliers in their supply chain have deposited tax and furnished correct returns is unjustified.

Key challenges: APTMA seeks Finance Minister’s help

Registration of 41 FIRs against different industrial units, including 12 FIRs against member mills of APTMA, is highly condemnable, he stressed.

He argued that the Sales Tax law only mandates buyers to verify suppliers’ Active Taxpayers List (ATL) status and ensure payments through banking channels. “This demand exceeds legal provisions and places an unrealistic burden on our members,” Arshad said, adding that buyers cannot be expected to investigate the entire supply chain; it’s akin to asking them to perform a policeman’s role.

He said all the APTMA members are reputed exporters and arresting their Chief Financial Officers without first adjudicating civil financial liability is unlawful and creates harassment, fear, and business closures.

Arshad emphasized that APTMA has always encouraged tax compliance but refused to hold the textile industry responsible for others’ wrongdoing. Instead, he proposed enhancing trade bodies’ role in supporting FBR’s compliance efforts.

Copyright Business Recorder, 2024

Comments

Comments are closed.