Outstanding tax refunds: ICCI calls for early release

Says FBR should focus on developing a fair taxation system to end all existing distortions

ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) has called upon the Federal Board of Revenue (FBR) to arrange early clearance of all outstanding tax refunds of business community as keeping such claims pending would hurt the confidence of businessmen in the tax machinery. President Muzzamil Hussain Sabri said that all tax refund claims should be cleared within three months of the filing of the claim. He stressed that there should be a level-playing field in this regard and FBR functionaries failing to release valid refunds of the businessmen should be held accountable, as this would force them to expedite the payments. “The FBR should focus on developing a fair taxation system to end all existing distortions and discriminations in tax regime,” said Sabri. “Timely release of payments would improve confidence of taxpayers as well as contribute positively in increasing the tax revenue of the country,” he added.

Published in The Express Tribune, April 23^rd, 2015.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.