MCCI demands release of funds

Says govt has failed to achieve targets for FY17, broaden the tax base

MULTAN: The government has failed to achieve the tax targets fixed for 2016-17 despite employing all tactics and delaying the issuance of refunds describing it concerning and discouraging.

The parliament had approved unrealistic revenue targets in the previous budget, which could not be achieved even after realising advance taxes from corporate sector and delaying payment of refunds, said Multan Chamber of Commerce and Industry (MCCI) President Jalaluddin Roomi and its members.

They claimed that billions of rupees had been stuck in refunds of sales tax, income tax, customs rebates and other taxes and levies.

“The conduct is highly contradictory as their entire energy is focused to further squeeze the already existing tax-payers while no effort is being made to bring tax-evaders under the tax net,” said a statement.

The officials said that if the exporters’ demands are not fulfilled they would have to shut their business.

The gravity of the situation demands immediate intervention of the prime minister to release textile exporters refunds, revert all FBR’s rolled back ERPOs and incentivise the value-added textile sector to uplift exports, said Roomi.

Published in The Express Tribune, July 16^th, 2017.

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