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KCCI asks FBR to simplify income tax returns filing procedure

KCCI asks FBR to simplify income tax returns filing procedure

KARACHI: Local industrialists and businessmen have urged Federal Board of Revenue (FBR) to further make easier new rules of filing income tax returns to enhance tax base of the country.

Karachi Chamber of Commerce and Industry (KCCI) President Abdullah Zaki, in a statement, demanded that the status quo should be restored to tax year 2013 in order to ensure smooth functioning of businesses.

The KCCI president said that these rules would discourage existing taxpayers and promote tax evasion. He advised that before imposing new rules, the business community, especially the representatives of regional chambers across the country should be taken on board. Pointing out the problems faced by the businessmen and industrialists, he said that political uncertainty, energy outage, rising inflation and deteriorating law & order situation were the biggest hurdles for businessmen to boost their business.

“Therefore, FBR should refrain from creating more problems and devise strategies to facilitate business community so that they could expand their businesses as enhanced revenue collection can only be ensured by promoting growth of business activities,” he added.