FBR to begin implementing deal reached with traders

Traders' body refuses to comply until all agreement terms are enforced

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has announced that the FBR will start implementing the deal with traders while notifications for establishing committees comprising business representatives from across the country will be issued next week.

"The FBR and traders will partner to ensure the registration of traders who are outside the tax net," he said.

On the other side, the traders' association, while dismissing the FBR announcement, has refused to comply with the deal until all terms of the agreement are enforced.

FBR chief softens stance on new revenue authority

In a telephonic conversation with The Express Tribune, All Pakistan Traders Association (APTA) President Ajmal Baloch clarified that the traders would only accept the agreement if it was implemented in full.

"It is not possible for the traders to cooperate if only half the agreement or one point is implemented. If the government abides by all the terms of the agreement made with the traders, the union will proceed with its decision taken after consultation with businessmen from across the country," he added.

Responding to a question, Zaidi said the deal would come into force from January 2020 following which the FBR would facilitate the traders in getting them registered while remaining outside the tax net. Until then, all other terms of the agreement would also be implemented, he said.

The FBR chairman tweeted that implementation of the agreement with traders would begin next week.

The FBR has also set up a directorate general for retail while as per the agreement, the condition requiring CNIC copies for transactions exceeding Rs50,000 would be enforced. However, there would be no government action until January 2020.

PM urges FBR to restore taxpayers trust

Meanwhile, the FBR has issued cheques to bondholders amounting to billions of rupees after the bonds worth more than Rs31 billion, which were released against tax refund claims, met with failure.

On Friday, the revenue authority revealed that it had issued cheques to the exporters who had been issued bonds against refund claims.

According to a senior FBR official, the Economic Coordination Committee and the federal cabinet had approved a technical supplementary grant for the purpose a few days ago.

Published in The Express Tribune, December 7^th, 2019.

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