Trust gap exists between businesses, taxmen: LCCI

Published: March 2, 2017
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LAHORE: Industrialists and businessmen of Lahore have expressed concern over the widening shortfall in government’s tax collection.

In a statement on Wednesday, Lahore Chamber of Commerce and Industry (LCCI) President Abdul Basit, Senior Vice President Amjad Ali Jawa and Vice President Muhammad Nasir Hameed Khan said the tax collection shortfall in the first eight months of the current fiscal year was ample proof of miseries of trade and industry.

It also showed the trust gap between the business community and revenue collectors, they said, adding the shortfall would add to financial woes of the present government.

According to statistics, the Federal Board of Revenue (FBR) provisionally collected Rs1.91 trillion in Jul-Feb 2016-17, falling short of the target by Rs154 billion. It was supposed to collect Rs2.064 trillion in the eight-month period, with a 16% growth to meet the target.

Published in The Express Tribune, March 2nd, 2017.

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