Wednesday , July 15 2020
Breaking News
Home / Chambers & Associations / RCCI voiced concerns on notices by tax authorities
RCCI voiced concerns on notices by tax authorities

RCCI voiced concerns on notices by tax authorities

RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) President, Malik Shahid Saleem has stressed upon the Federal Board of Revenue (FBR) to stop its notices and harassment campaign going on in the country in the garb of tax collection.

This harassment by FBR is causing fear amongst trade and industry, he said. Harassment should be stopped in the name of revenue collections. Companies and individuals are finding themselves served with audit notices, and then offered the option of paying a nominal penalty to ‘get off the hook’, he added.

Addressing traders meeting at Chamber House Rawalpindi, RCCI President said FBR must facilitate taxpayers and their focus should be on potential tax payers.

It is unfortunate on FBR part that instead penalizing non-filers, notices are being served to tax payers (filers). Malik Shahid warned that such acts from FBR would serve as a disincentive to potential taxpayers to join the tax net and at the same time undermine the governmental efforts of broadening the base through encouragements.

To end harassment, RCCI President further suggested that FBR must expedite its reforms process under the administrative measures.  RCCI had already submitted its recommendations related to broadening the tax base where it was suggested that discretionary powers of inland department should be restricted as it lead to abuse of authority and harassment.

Tax holidays may be introduced for new business ventures for at least first five years from the date of incorporation for those taxpayers who incorporate their businesses as LLP/ Companies, he further added.

Malik Shahid Saleem expressed hope that FBR will also work as a partner with business community in collection of revenues.