FBR urges more interaction with business community
Concedes regulatory duty on some raw materials was a mistake
Federal Board of Revenue PHOTO: AFP
KARACHI:
Federal Board of Revenue (FBR) Chairman Tariq Mehmood Pasha emphasised on Tuesday a strong partnership with the business community for economic growth and development of the country through better interaction and confidence, instead of trading complaints.
“Tax collection cannot grow without due consultation with you people [the business community],” Pasha said, adding that “you are the engine of the economy and I assure you every possible facilitation,” while speaking at an interactive session with members of Karachi Chamber of Commerce and Industry (KCCI).
Sugar cane farmers to block National Highway on Dec 23
The FBR chairman advised the KCCI leadership to form a committee of tax experts to engage with FBR for review/ rectification of policies on the most pressing issues of the business community along with proposing practical solutions.
It is not practical to listen to a large number of proposals from various quarters, Pasha argued, instead asking for unified proposals after undertaking ‘good homework’. Pasha agreed with the KCCI leadership that FBR’s audit procedure had certain lacunae and assured them of immediate rectification to facilitate and build confidence among tax-paying businessmen and encourage new ones.
PM aide pushes FBR to meet revenue target
To a question, he said FBR had started working with the Sindh Board of Revenue - set up after 18th Amendment in the constitution. However, he said, it would take time to streamline things, adding that over the last four months there was a significant increase in domestic sales tax collection and same was expected in income tax collection.
The FBR chief also assured of relief by admitting that there were some wrong entries in the list of 711 items on which regulatory duty was recently imposed. “Yes, some items including raw materials have wrongly been included in this list,” he remarked. He also assured that he would ensure the minimum use discretionary powers awarded to tax collectors.
Published in The Express Tribune, December 20th, 2017.
Federal Board of Revenue (FBR) Chairman Tariq Mehmood Pasha emphasised on Tuesday a strong partnership with the business community for economic growth and development of the country through better interaction and confidence, instead of trading complaints.
“Tax collection cannot grow without due consultation with you people [the business community],” Pasha said, adding that “you are the engine of the economy and I assure you every possible facilitation,” while speaking at an interactive session with members of Karachi Chamber of Commerce and Industry (KCCI).
Sugar cane farmers to block National Highway on Dec 23
The FBR chairman advised the KCCI leadership to form a committee of tax experts to engage with FBR for review/ rectification of policies on the most pressing issues of the business community along with proposing practical solutions.
It is not practical to listen to a large number of proposals from various quarters, Pasha argued, instead asking for unified proposals after undertaking ‘good homework’. Pasha agreed with the KCCI leadership that FBR’s audit procedure had certain lacunae and assured them of immediate rectification to facilitate and build confidence among tax-paying businessmen and encourage new ones.
PM aide pushes FBR to meet revenue target
To a question, he said FBR had started working with the Sindh Board of Revenue - set up after 18th Amendment in the constitution. However, he said, it would take time to streamline things, adding that over the last four months there was a significant increase in domestic sales tax collection and same was expected in income tax collection.
The FBR chief also assured of relief by admitting that there were some wrong entries in the list of 711 items on which regulatory duty was recently imposed. “Yes, some items including raw materials have wrongly been included in this list,” he remarked. He also assured that he would ensure the minimum use discretionary powers awarded to tax collectors.
Published in The Express Tribune, December 20th, 2017.