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    Monday, June 19, 2017

    All Sales tax, Income tax refunds will be cleared till August 15- Chairman FBR

    MULTAN, June 19th: Chairman of Federal Board  of Revenue Dr.Muhammad Irshad has assured that akll income tax and sales tax refunds of  upto Rs.one million would be paid till July 15 and other refunds of heavy amount will be cleared on August 14-15.It woulkd be a major event besides inaugural of Islamabad Airport.He said that Government was fully aware of the problems faced by the manufacturers, exporters due to financial crunch and their grievances would be redressed on top priority basis. He further said that Government had planned to make payment to exporteres/manufacturers through bonbs but this proposal could not be materialised.He was addressing the member of Multan Chamber of Commerce & Industry (MCCI) at an Iftar Dinner hosted by Khawaja Jalaluddin Roomi on Monday.Chairman Federal Board of Revenue Dr. Muhammad Irshad has said that no surprise visits of business premises would be conducted as he wants to establish friendly relations with business community.Chairman FBR  said that the growth of private sector would help increase revenue. “We are friends. We should not see each other as rivals or hostile as our objective is same.” He said that misunderstanding is the major reason of problems therefore regular liaison with the business community is being ensured to tackle this issue. He suggested formation of an Advisory Committee having representatives from public and private sectors.He said that number of filers has jumped to 1.4 million from 0.7 million while tax rate is being reduced 1% annually since this government came into power. He said that filers would be facilitated and nobody would be allowed to tease or harass them, as they are backbone of the economy. He said that refunds of Rs.57 billion have already been given while issue of remaining would be resolved soon.He said that there is no tax on input or output in zero rated regime while government giving maximum facilities to the export-oriented industry.He said that there would be no surprise inspection of the business premises. Concerned businessmen would be informed well before the time and all work would be done in friendly atmosphere. He urged the businessmen to cooperate with the department for pending audit cases. He said that forthcoming budget is well consulted and based on the theme of revival of the economy.The MCCI President Khawajka Jalaluddin Roomi highlighted the areas where the trade and industry expects relief from the FBR. He said that the policies should be aimed at widening the tax net rather than taxing the already taxed. There is a strong need for long term planning and consistency in policies. He said tax returns and other documents are modified each year which creates confusion.He said that increasing tax revenues and decreasing number of tax filers is an ample proof of the fact that FBR is putting additional burden to the existing taxpayers. He said that share of industry in tax collection is around 76% that is dwindling the competitive edge of the industry and affecting the exports. He said that MCCI members are paying tax in Sindh and than in Punjab for same consignment that is double taxation. MCCI has given suggestion to the Punjab Revenue Authority (PRA) to give authority to a single agency for tax collection. Federal government should also form a National Revenue Authority to collect all taxes once in a year. It would reduce frequency of the taxes and protect business community from the officials of various departments.He said that adjustment of sales tax deducted in gas and electricity bills of zero-rated sectors is not working properly. He said that there is no tax on agriculture sector of Pakistan while tax is imposed on livestock that is also a sub-sector of agriculture. He said that poultry feed costs 70% of the total input of this sector. He suggested that to increase the exports of poultry, around 62% duty should be withdrawn on raw material being used in burger patty and nuggets etc.

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    Item Reviewed: All Sales tax, Income tax refunds will be cleared till August 15- Chairman FBR Rating: 5 Reviewed By: Abdul Sattar Qamar