Karachi Chamber of Commerce and Industry (KCCI) President Muhammad Jawed Bilwani has said that the recent requirement to file monthly stock statements, consumption data and complex purchase, sale and stock reports, introduced by the Federal Board of Revenue (FBR) through notification 55(i)/2025, has made timely filing of monthly sales tax returns nearly impossible for small-scale businesses and traders.
Criticising the complex stock detail filing requirement enforced by the FBR a few days ago, he said in a statement the Karachi Chamber was facing substantial pressure from small traders and business owners regarding the issuance of SRO 55(i)/2025. It cannot be complied with by many small-scale importers, traders and wholesalers, who are unable to afford the cost of professional accountants or tax practitioners due to their low profit margins.
"We strongly oppose new requirements for filing complicated stock statements and production data and urge the FBR chairman to address this burning issue," he remarked.
"They (small businesses) often operate with family-based manpower or a limited number of essential employees," he pointed out.
The KCCI president said instead of simplifying tax compliance and record keeping, the FBR continued to put additional burden on the already documented sector.
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