Industry for early resolution of tax issues

Says FBR imposing fines on retailers for not installing Point of Sales system

LAHORE:

The Lahore Chamber of Commerce and Industry (LCCI) on Tuesday called for an early resolution of tax-related issues.

In a letter to Federal Board of Revenue (FBR) Chairman Muhammad Javaid Ghani, LCCI President Mian Tariq Misbah said several tax issues were hurting the economy, therefore, they should be tackled on priority.

Misbah said the FBR had started imposing heavy fines on retailers/ chain stores for delay in installation of the Point of Sales system. “Government must take the private sector into confidence before taking such punitive measures and address their apprehensions,” he emphasised.

The LCCI chief said, “In the current economic scenario when taxpayers are already facing severe liquidity issues, the number of audits should be reduced considerably. FBR should follow the policy of only risk-based audits.”

He added that the business community was facing challenges regarding the CNIC condition. “The condition of disclosing CNIC on sales to unregistered persons should be abolished in the larger interest of small businesses during these times.”

Misbah said the tax system should be made simpler in such a way that tax officials could not harass businesses.

Published in The Express Tribune, November 4^th, 2020.

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