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Extension requested for provincial incentive scheme

Extension requested for provincial incentive scheme

To,

Honourable Chief Minister, Sindh

 

Respected Sir,

We feel pleasure to introduce Karachi Tax Bar Association (KTBA) which comprises of more than 1800 members consisting of lawyers, chartered accountants, cost and management accountants and tax practitioners, who are providing services to a large number of taxpayers in the matters of taxation and corporate affairs for more than five decades.

We take this opportunity to appreciate the economic reforms and developments initiated by the Sindh Government under your able leadership and guidance. We are very delighted to know that this year your government has doubled the development expenditure in comparison to last year for major initiatives for the development of Thar coal project.

We also appreciate the initiatives taken by the Ministry of Finance of chalking out Sindh Revenue Mobilization Plan and establishment of tax reforms unit.

We have come to know that after a detailed discussion of four months by the high-ups of Sindh Revenue Board (SRB) with the government of Sindh an incentive package was issued for sales tax on services relating to taxpayers/WHT agents, who failed to pay sales tax on services or payment of Withheld amount of Sindh Sales Tax vide Notification No.SRB-3-4/7/2014 dated April 17, 2014.

We are of the view that the time frame of only 13 days given in the aforesaid notification is quite insufficient. We feel that a large number of defaulters would like to avail this scheme. You would appreciate that this is covering the period from July 2011 consisting of more than three and half years and e-filing of almost 40 returns. Laws and incentives are always made for the greater and larger share of taxes as future client of Sindh Revenue Board. A scheme which is not properly availed by all the taxpayers cannot be considered as fruitful and result oriented scheme.

In a meeting held with high-ups of SRB which was led by Syed Waseemuddin Hashmi, the President of KTBA along with a delegation requested for extension of above incentive scheme beyond April 30, 2014 and SRB team showed their inability in extending the date of the scheme.

KTBA and its parent Bar namely Pakistan Tax Bar Association (PTBA) led by Munawar Hussain Shaikh, firmly believes that circumstances and eventualities extensively mentioned in the scheme could become fruitful and beneficial for all the tax payers provided the same is extended till 15 June, 2014.

We, therefore, solicit your kind indulgence and intervention in the matter considering in the larger interest of the province of Sindh, to direct the SRB to extend the date of the scheme till June 15, 2014, so that all the affected persons would be able to get the real benefits of this scheme in order to make a success venture for SRB as well.

In the end, we assure you to work hand in hand with your government for better and prosperous Sindh province. Your timely intervention in the said matter would highly be solicited.

 

Muhammad Aleem,

General Secretary,

Karachi Tax Bar Association