Chairman Federal Board of Revenue visits Federation of Pakistan Chambers of Commerce and Industry

Islamabad, March 05, 2013 (PPI-OT): Mr. Ali Arshad Hakeem Chairman, Federal Board of Revenue (FBR) along with his team Mr. Malik Abdus Samad, Deputy Chairman, FBR, Mr. Muhammad Raza Baqar, Member, Inland Revenue, FBR, Khawaja Tanveer Ahmed, Chief Commissioner, Inland Revenue, FBR and Mr. Khalid Mahmood, Director General, Intelligence and Investigation , FBR visited FPCCI Head Office, Karachi and held a meeting with Haji Fazal Kadir Khan Sherani, President, FPCCI, Mr. Tariq Sayeed, Mr. S. M. Muneer, former Presidents, FPCCI Sheikh Shakil Ahmed Dhingra, Sheik Haroon Rashid and Begum Salma Ahmed, Vice Presidents, FPCCI and Mian Shaukat Ahmed, Mian Zahid Hussain, Mr. Zubair F. Tufail, Mr. Khurram Sayeed and other prominent members of FPCCI.

During the course of meeting various issues pertaining to taxes came under discussion. While speaking on the occasion Haji Fazal Kadir Khan Sherani, President, FPCCI appreciated the efforts of FBR for expansion of Income Tax Network which will contribute the tax share in the GDP.

He also appreciated the FBR strict action against Malpractices, he however opined that the SRO and ad hock culture in the FBR polices should be eliminated. He suggested that the long term business friendly policies be made with the consultation of FPCCI.

The members of the business community also voice their concern on the present refund system which was prone to corruption. The members of the FPCCI were of the view that the refund policy should be reviewed. They informed the FBR that the Million of rupees were stuck-up in the form of outstanding refund payment.

During the meeting the Chairman FBR accepted various demands of the FPCCI members made in the meeting which was highly appreciated by the members of FPCCI. In response to FPCCI proposal the Chairman FBR agreed to allow adjustment of accumulated carry forward input sales tax instead of refund under SRO 647 dated 2007.

The Chairman FBR further disclosed that FBR was taking certain measures to protect local industry against onslaught of imported goods in the local as well as the global markets and all policies in this respect would be drafted in consultations with the business community. He also announced the policy of FBR to regularize non-tax paid vehicles including public transport, which will be a great benefit to the Provinces of Balochistan, Baltistan and Khyber Pukhtoonkhwa and will be a great benefit to the poor masses of these Provinces. The FPCCI Chief assured all cooperation of FPCCI to the FBR against action of non-Tax Payers. He said that FPCCI will not support the Tax avoiders.

During the meeting the issue of 5% income tax withholding on all imports instead of 3% for industrial manufacturers vide SRO 140 was discussed, as well as the matter of life of reconditioned cars being imported into Pakistan.

The President, FPCCI also pointed out the huge volume of smuggling of livestock from Pakistan to Afghanistan and Iran. The meeting was concluded with presentation of the FPCCI Crest to Mr. Ali Arshad Hakim.

For more information, contact:
Syed Masood Alam Rizvi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Shahra-e-Firdousi,
Karachi-75600, Pakistan
Tel: 0092-21-35873691, 93-94
Fax: +9221 3587 4332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk

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