Filing returns: Federal Board of Revenue urged to simplify rules
Current policies complex and promote evasion of taxes, says KCCI.
KARACHI:
Karachi Chamber of Commerce and Industry (KCCI) President Abdullah Zaki appreciated the extension for filing income tax returns till October 31, also urging the Federal Board of Revenue (FBR) to simplify new rules in filing returns.
He said the FBR authorities should consider not only simplifying the rules but eliminating unnecessary ones, which are making the procedure more complex. He also stressed that the status quo should be restored to tax year 2013 in order to ensure smooth functioning of businesses, he added.
“Complex procedures will not help the FBR in its quest to enhance the tax base and discourage promotion of tax evasion. Keeping in view the hardships faced by the taxpayers, the non-taxpayers prefer staying away from the FBR which should not happen,” he said.
He said before imposing such rules, the business community, particularly the representatives of regional chambers of commerce across Pakistan, should be taken on board.
He pointed out that the businessmen and industrialists faced many challenges due to political uncertainty, energy outage, rising inflation and deteriorating law and order situation. Therefore, the FBR should refrain from creating further problems and devise strategies to facilitate the business community so they could expand businesses and enhance revenue collection.
“The solution to slow economic growth lies in the revival of taxation policies and an improved tax collection system.
Proactive measures should be introduced to plug leakages and loopholes in the prevailing tax system,” he said.
Published in The Express Tribune, September 30th, 2014.
Karachi Chamber of Commerce and Industry (KCCI) President Abdullah Zaki appreciated the extension for filing income tax returns till October 31, also urging the Federal Board of Revenue (FBR) to simplify new rules in filing returns.
He said the FBR authorities should consider not only simplifying the rules but eliminating unnecessary ones, which are making the procedure more complex. He also stressed that the status quo should be restored to tax year 2013 in order to ensure smooth functioning of businesses, he added.
“Complex procedures will not help the FBR in its quest to enhance the tax base and discourage promotion of tax evasion. Keeping in view the hardships faced by the taxpayers, the non-taxpayers prefer staying away from the FBR which should not happen,” he said.
He said before imposing such rules, the business community, particularly the representatives of regional chambers of commerce across Pakistan, should be taken on board.
He pointed out that the businessmen and industrialists faced many challenges due to political uncertainty, energy outage, rising inflation and deteriorating law and order situation. Therefore, the FBR should refrain from creating further problems and devise strategies to facilitate the business community so they could expand businesses and enhance revenue collection.
“The solution to slow economic growth lies in the revival of taxation policies and an improved tax collection system.
Proactive measures should be introduced to plug leakages and loopholes in the prevailing tax system,” he said.
Published in The Express Tribune, September 30th, 2014.