Skip to main content

FBR chief allays traders’ concerns over possible raids

ISLAMABAD: Chairman of the Federal Board of Revenue (FBR) Shabbar Zaidi has assured the business community that raids would not be carried out on places of registered taxpayers for collection of income tax or sales tax.

He, however, called upon businessmen and traders to help the authorities solve the problems of smuggling and tax evasion.

Talking to a delegation of the Rawalpindi Chamber of Commerce and Industry (RCCI) here on Friday, the FBR chief said he would ask the Directorate General of Intelligence and Investigation of Inland Revenue (IR) to largely refrain from mounting raids.

Mr Zaidi agreed to a proposal for granting the power of imposing penalties to an official not below the rank of an FBR member, who would evaluate the complaints/charges against an individual and then give permission for a raid, if really needed.

Says that turnover tax will be reduced for small businesses on case-to-case basis and its threshold will be enhanced

The sensitive issue came under discussion when some members of the RCCI delegation expressed strong reservations over the raids being conducted by the FBR officials along with security personnel and termed them “totally unjustified”.

The FBR chairman told the delegation that turnover tax would be reduced for small traders and businessmen on a case-to-case basis and its threshold would be enhanced. “Haj companies making payments to Saudi Arabia under Section 152 will be evaluated and exempted from withholding tax,” he added.

“The threshold for withholding agents registered with sales tax will be enhanced; the importers’ registration and the web-based registration package WEBOC will be made easier,” Mr Zaidi said.

RCCI president Saboor Malik said to the FBR chief: “The economy is passing through difficult times and we are also suffering, but we require better partnership with the FBR as joint efforts are essential for the economy’s revival.”

He said that raids and closure of business centres gave a negative message, besides adversely affecting the reputation and goodwill of the businesses concerned.

The RCCI delegation included Sohail Altaf, Jalil Ahmed Malik, Asad Mashhadi, Raja Amer Iqbal and Shahid Saleem. FBR’s member for tax policy Hamid Attiq also attended the meeting.

“The situation [during a raid] gives the impression that an activist of a banned or terrorist outfit has been arrested,” said Mr Malik while explaining the manner in which the FBR officials carry out the raids on business centres.

Published in Dawn, November 30th, 2019



from The Dawn News - Home https://ift.tt/33xpLwk
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Sialkot police bust gang of robbers, seize over Rs20m looted cash

SIALKOT: Police on Tuesday claimed to have busted an infamous gang of robbers and seized Rs20.3 million looted cash from their possession, ARY News reported. A spokesperson for the police confirmed the arrests saying the eight-member gang had looted a pharmaceutical company’s truck full of medicine. He said the looted cash to the tune of Rs20.3 million was also recovered from their possession. The police said the recovered cash and truck have been handed over to their owner. Read More: Youngster battles for life as Punjab police ‘mistakenly’ opens fire on him Earlier, on June 20, Karachi police had apprehended six robbers allegedly involved in a bank robbery of Rs10.5 million last month. The robbers had produced Rs9 million from the bank robbery in front of the police after being taken under arrest. The police also recovered the weapons used by the criminals in the bank robbery. The gang was stated to have a previous record of robbing various places in the city, the police said. ...
Post a Comment
Read more

Peshawar security forces kill four suspected terrorists

The Peshawar Counter-Terrorism Department personnel gunned down four suspected terrorists after raiding their hideout on the Kohat Road Monday. According to the security forces, the suspects were plotting an attack. A cache of weapons and ammunition has been seized too. On Monday evening, a special CTD team raided the hideout after surrounding it and exchanged fire with them. No CTD personnel was injured in the operation. from SAMAA https://ift.tt/2V8MRbn
Post a Comment
Read more

Headlines 9am: Karachi to face power outages, coronavirus cases rise

Here are the headlines from SAMAA TV’s 9am bulletin. Pakistan has begun reporting fewer coronavirus infections in the last couple of days. In the last 24 hours, 3,964 cases were reported with 105 deaths. Around 73,000 recoveries have been confirmed so far. Three people were killed in a collision between a motorcycle and ambulance on the Mehran highway. A child was injured as well. Robbers looted a house in Karachi’s Azizabad in broad daylight and in the presence of a policeman. The cop chased the thieves but they were able to escape. SAMAA TV has acquired a CCTV footage of the robbery. A terrorism bid has been foiled in Peshawar. During a raid, security forces eliminated four terrorists. A cache of weapons and ammunition has been recovered. Saudi Arabia has announced it would hold a “very limited” Hajj this year owing to the coronavirus pandemic, with pilgrims already in the kingdom allowed to take part. The Kingdom has informed Pakistan about it as well. Pakistan’s Religious A...
Post a Comment
Read more