ISLAMABAD: Chairman Federal Board of Revenue (FBR), Mumtaz Haider Rizvi Friday warned that unlawful and illegal sales tax adjustment would not be allowed as this practice has been causing loss to the national exchequer.
The FBR chairman was talking to Committee of Federal of Pakistan Chambers of Commerce and Industry (FPCCI) and Karachi Chamber of Commerce and Industry (KCCI) during a meeting held in Karachi, according to FBR press statement issued here.
The meeting was convened for recovery of unlawful and illegal Sales Tax Input Adjustment; the statement said, adding, extensive discussion was held between the Committee and the FBR team to resolve the pending tax related issues.
He assured the committee that all the concerns of FPCCI and KCCI would be examined sympathetically, however, added that everything would be done within the ambit of law.
The FBR Chairman held another meeting with the Tax Reforms Core Group (TRCG) in Karachi to discuss budget proposals for FY 2012-13.
Different budget proposals received from various stakeholders, as well as the budget proposals drafted by FBR, were discussed during the meeting.
The Chairman said, FBR is utilizing all resources to achieve the revenue target of Rs.1952 billion and expressed optimism that the target would be met.
He said the government has announced that the next budget would be people's friendly, so FBR's role becomes more crucial in this regard as the revenues collected by FBR enable the government to provide relief to the masses.
Rizvi also held a meeting with Farrukh Junaidi and the management of Karachi Electric Supply Company (KESC) to discuss and resolve the issue of recovery of default surcharge from KESC for which notices were issued by LTU Karachi, and other tax related matters pertaining to the Company.
The Chairman FBR was accompanied by Member (IR) Shahid Husain Asad and Chief Commissioners of LTU and RTOs Karachi in all these meetings, the statement added.
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