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RCCI pins hopes on new FBR head

RCCI pins hopes on new FBR head

RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) on Friday hoped the new chairman Federal Board of Revenue (FBR), Shabbar Zaidi, would introduce new strategy to solve business community’ problems, while creating new venues for collection rather than taxing the existing tax payers.

RCCI President Malik Shahid Saleem, in a statement, expressed optimism that with his long experience in the field of chartered accountancy and well versed with the Pakistan’s tax law; he would help resolve economic issues and challenges.

He said that trust deficit had been widened from last couple of years between the business community and Federal Board of Revenue that impacted harshly on the business environment in the country.

We are very optimistic and hopeful that new FBR chairman will bring immediate reforms in FBR aiming to acknowledging the tax payers, broadening the tax net and chasing Non-filers, he added.

He said that business community wants to supplement government endeavors aimed at economic revival of the country and is also ready to give positive doable suggestion to the Federal Board of Revenue for expansion of tax net.

Through friendly approach and honoring the honest taxpayers, Federal Board of Revenue could collect more revenues than the existing as people would come into the tax net voluntarily, he added.

We already submitted recommendations to FBR where it was suggested that the discretionary powers of the inland department should be restricted since it leads to abuse of authority and harassment, RCCI President informed.

It was proposed that a single online integrated sales tax returns filing procedure might be introduced for Federal and Provincial Sales Tax declaration in lieu of current separate filing requirements for federal and each province, he added.