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PTBA urges FBR to reimburse refunds to companies assuring job security to employees

LAHORE: Pakistan Tax Bar Association (PTBA) has urged Federal Board of Revenue (FBR) to like the  process and mechanism of issuance of refund to  job security of the works of the refund receiver companies.

“We would like to express our gratitude  and appreciate the steps taken by the government to allocate funds for the issuance of refunds to the taxpayers facing a challenge of working capital management in the outbreak of COVID- 19, ” PTBA Senior Vice President Habibur Rehman Zubari stated here.

In order to ensure that the purpose of the same is fulfilled in spirit, as job security of employees are also essential he said, suggesting various points.

He said the taxpayers shall be issued the refund payment vouchers to the extent of salary accrued for the relevant month and the amount of salary to be paid to be determined on the basis of data of  registered number of employees with social security services/EOBI.

Meanwhile, PTBA urged Prime Minister Imran Khan that the imposition of taxes to collect funds for generating funds COVID-19 pandemic following point may be taken into consideration:

  • The said tax can either be imposed by adding a subsection to already available section 4 B or a likewise section to be added in law;
  • As at current the assembly is not in session so the proposed changes can be imposed by passing an Ordinance which shall be applicable on immediate basis;
  • The tax shall be imposed on each and every person under the given criteria, irrespective of being or not being a filer of tax return;
  • The rate of tax charged is proposed to be the higher of 3% of the tax chargeable to a person or PKR 1,000/- (being the minimum to be contributed by all taxpayers);
  • The said tax shall be capped upto a maximum of PKR 100,000/- to ensure that the same is kept in line with the current economic conditions faced by the industry as a whole;
  • An amendment is proposed to Section 236 B of the Ordinance. A sub-section shall be inserted to charge additional fixed tax of PKR 1,000/- on each air ticket and the same shall not be adjustable;
  • A new section shall be added to charge PKR 5,000/- on transfer of each and every immovable property;
  • The relevant changes as proposed can also be charged on transfer of luxury vehicles;
  • An additional levy shall also be imposed on purchase of petrol being Rs1 per liter;
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