AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, August 19, 2014 (PPI-OT): Chairman of Pakistan Soap Manufacturers Association (PSMA), Tanvir Ahmed Sufi has said that Federal Board of Revenue (FBR) should not be allowed to devise economic policies and it should only remain confined to tax collection and revenue generation activities.
Tanvir Sufi, who led a delegation of Pakistan Soap Manufacturers Association (PSMA) during their visit to Karachi Chamber of Commerce and Industry (KCCI), said that FBR should focus on revenue generation and seek ways on how to further enhance low tax base whereas an independent body should be formed to devise various economic policies including the federal budget of the country.
This independent body, he added, should comprise of all stakeholders including experts, economists, intellectuals, prominent businessmen and industrialists along with representatives of Chambers of Commerce and Industry which, if done, would certainly create an enabling atmosphere for everyone, besides ensure progress and prosperity for the country.
President KCCI, Abdullah Zaki and KCCI Managing Committee members Zafar Saeed Baghpatee, Muhammad Saqib, Abid Nisar and Asif Nisar were also present at the meeting while PSMA delegation comprised of its Chairman, Tanvir Ahmed Sufi, Muhammad Ali Zia, Tariq Zakaria, Shehzad Mushtaq Paracha, Syed Anwar Sohail Rizvi, Tahir Zaman, Naveed Farooq Faridi, Muhammad Haroon Potiawala and others.
Tanvir Ahmed sought KCCI’s assistance in convincing the government to form the proposed independent body which will be responsible for reviewing the overall business climate along with various economic indicators and accordingly devise policies in the larger interest of the country.
“Currently, FBR’s policies are focused more on revenue generation and the government ignores needs and requirements of industries. The negative consequences of overburdening the existing taxpayers are also being neglected which is likely to keep various economic indicators depressed”, he added.
He said that obsolete tax policy needs to be revised as most of the decades old tax collections measures cannot be applied nowadays. The old tax policy gives enough room for tax evasion and corruption.
Speaking on the occasion, President KCCI Abdullah Zaki said that although the government has formulated a Business Advisory Council to take business community on board in the decision-making process but it needs to be made more effective with a view to ensure that the decisions taken and consensus reached during advisory council’s meeting are timely implemented in letter and spirit.
He pointed out that harassment and mistrust are the main issues being faced by taxpayers who, despite facing severe hardships in dealing with FBR authorities, continue to clear their tax liabilities on time but they are constantly being discouraged and after witnessing the trouble being faced by existing taxpayers, the non-taxpayers prefer staying away from FBR.
Complex procedures in filing tax returns need to be simplified and it is high time that FBR must come up with a one-window automated facility for the entire tax collection process which would not only help in minimizing the problems being faced by taxpayers but will also effectively deal with widespread corruption, Abdullah added.
He assured PSMA delegation that their suggestions to keep FBR confined to revenue generation only and to establish a separate and independent body for devising economic policies of the country will certainly be raised in the next meeting of Business Advisory Council. In the end, Abdullah Zaki, while stressing the need for coordinated efforts, extended full support and cooperation to PSMA delegation in dealing with various issues.
For more information, contact:
Aamir Hassan
Director Press/Electronic Media and Public Relations
Karachi Chamber of Commerce and Industry (KCCI)
Aiwan-e-Tijarat Road, Off Shahrah-e-Liaquat,
Karachi-74000
Phone: +92-21-99218001-09
Fax: +92-21-99218040
Email: info@kcci.com.pk, secretary@kcci.com.pk
Website: www.kcci.com.pk
The post Federal Board of Revenue be confined to tax collection only, independent body be formed for devising economic policies: Tanvir Sufi appeared first on Business News Pakistan.