Tax net: FBR entrusts FPCCI with simplifying tax forms

Move expected to encourage more people to pay taxes.

KARACHI: Federal Board of Revenue (FBR) has assigned the budget and taxation committees of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) the task to simplify the income tax and sales tax return forms for taxpayers.

The FPCCI had organised a panel on budget proposals which met FBR Chairman Ansar Javed. Following the meeting chairman FBR announced that the task will be assigned to FPPCI in order to facilitate taxpayers and help them to file their returns sans any complications.

FPCCI Chairman Taxation Committee Shaukat Ahmed said that members of the budget and taxation committee had complained about the complicated tax returns forms, which, according to the committee, is an important factor discouraging existing taxpayers and causing reluctance among potential taxpayers in entering the tax net. Shaukat said that the FPCCI team has suggested to the FBR to make the forms extremely simple and as easy to fill it out.

The committee also suggested that rules and regulations for retailers, wholesalers and transporters be simplified to attract them to becoming taxpayers. It also asked for an amnesty scheme for improving the investment climate and industrialisation for economic growth.

It was demanded that machinery import be listed as ‘zero-rated’ and all kinds of taxes on import of industrial and export-oriented raw-material and machinery be withdrawn. FPCCI strongly encouraged the FBR chief to do away with the prevailing ‘SRO culture’, end frequent changes in policies and fix a standard rate of sales tax.

The team also suggested that the FBR grant tax credit to new industrial undertakings in the forthcoming budget so that dying industrial sector could be given breathing space and to bring investment.

Published in The Express Tribune, June 8^th, 2013.

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