The Pakistan Industrial and Traders Association (Piaf) has expressed its concern over issuance of notices by the Federal Board of Revenue (FBR). While speaking at a reception, the Piaf Chairman Sohail Lashari demanded of the Board to immediately stop issuing such notices failing which the business community would hold a series of protests.
Former LCCI presidents Mian Anjum Nisar and Mian Shafqat Ali also addressed the large business community gathering comprising industrialists and traders. He said that the business community disapproves the FBR move and will not tolerate any arm-twisting step by the tax department but it would be resisted tooth and nail.
Almost all the leading economies were giving incentives to expedite economic activities in their respective countries, but in Pakistan the people who are sitting at the helm of affairs were doing the otherwise at this point in time when almost all the businesses were facing a number of internal and external challenges, he said.
He said that the business community was quite conscious of its national obligations and the decision to issue unnecessary notices to them would only vitiate business atmosphere. He emphasised that before any harsh step is taken such as conducting raids and instituting FIR the sales tax officials should sit down with tax payers if any discrepancy appears and solve the issue amicably. He said that raids and FIRs are counterproductive like drone attacks. He stressed the need that the taxpayers and tax collectors should be on the same page as both are striving to serve the nation.
Speaking on the occasion, Mian Anjum Nisar said that it would be wiser on the part of the Federal Board of Revenue to strengthen its institutional capacity for bringing more people into the tax net instead of squeezing the existing taxpayers. With a view to cultivate the culture of voluntary tax payments, the taxpayers should be facilitated and guided, and instead of imposing harsh penalties, minor mistakes should be rectified. Notices without deciding specific criterion in consultation with the trade and industry, is not acceptable and discretionary and arbitrary powers of the tax officials in this regard should be curtailed forthwith, he added. "The anomalies in the Sales Tax and Income Tax laws should be removed" they added.
Meanwhile, Piaf Chairman urged the government to ensure uninterrupted electricity supply to the industry as unannounced prolonged load shedding was bringing economic activity to a grinding halt and to bring the industrial sector out of mire, the government would have to take measures on war footing to end the power outages.
He said that it was not possible to keep the industrial wheel on the run in the presence of such a huge load shedding. He said that the acute power shortage had crippled the entire industrial sector and the industrialists were unable to meet their local orders what to talk of export orders. He feared the economy would suffer badly in the coming days if industry of the country was not provided due support at this hour of need.
While criticising the decision of two holidays and closure of markets at 8.00 pm, he said that such decisions would not help curtail the load shedding and add more fuel to the fire. He said that the only way of ending the load shedding is the enhancement of power generation, particularly through the hydel resources.