FAISALABAD: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi on Monday said that country economy could not stand on its feet until addressing the issues of under invoicing, smuggling and Afghan Transit Trade.
Talking to the media during his visit to FBR Office here, he said that no new tax had been imposed in the federal budget 2019-20 and the condition of CNIC was already present, it is misperception that current wave of inflation was due to taxes.
He said that no textile mills closed, all in operational mode adding that the issue was that the dealers were not buying thread because they do not want to become part of the tax system.
He said that current wave of inflation in the country was due to the role of middlemen as neither they were part of taxation system nor they want become in future.
He said that FBR officials would not be allowed for harassment of any business personality and if anyone found in illegal practice, he would be dealt with iron hands.
He said that all taxation system was being made automated to facilitate the people and elimination of chances of corruption, adding that registration of sales tax system has been made automated.
He said that last tax amnesty scheme was enjoyed by majority of the people belonged to Karachi and Lahore but in current amnesty scheme, people from all over the country took interest.
He said that date for filing of returns for the year 2018 had been extended till August 2.
He said that a major cause of inflation in the country was appreciation of US dollar against rupee.
He said that inflation could be controlled by promotion of industrialization and creating employment opportunities.
About sales tax, he said that sales tax on local textile products was 17 percent and it cannot be changed while the issue refund on exports would be addressed with the consultation of exporters.
Comments
Comments are closed.