Chairman Federal Board of Revenue (FBR), Tariq Mahmood Pasha, while terming the business community and tax collecting authority as ‘Partners’, assured to award due consideration to KCCI’s suggestions in dealing with some of the pressing issues pertaining to revision of Regulatory Duty on imported items, Refund Claims, Audit, Discretionary Powers and other serious issues being faced by the business and industrial community.
Speaking at an interactive session during his visit to the Karachi Chamber of Commerce & Industry on Tuesday, Tariq Pasha advised KCCI to formulate different committees in order to come up with workable solutions for dealing with numerous taxation issues, budgetary measures, refunds claims, audit or any other issue. “Without taking the business community into confidence, the taxation system simply cannot move forward”, he added.
Tariq Pasha said that FBR has witnessed growth in its revenue collection and returns filed so far. The credit for this growth can be attributed to government’s initiatives and improved performance of numerous domestic sectors including the manufacturing sector. A total of 1,075,000 returns have been filed as on December 19, 2017, indicating an upsurge of 26 percent as compared to last year.
To deal with pending Refund Claims, Tariq Pasha offered that FBR can pick up 100 cases of substantial refunds on random basis whose Refund Payment Orders have not been issued and are blacklisted or deferred. These cases will be brought to relevant Associations’ notice in order to prove their genuineness and upon certification by the concerned Association, FBR will decide these cases.