Islamabad Chamber of Commerce and Industry (ICCI) on Thursday urged the government to revoke sections 203B to 203I of Finance Act 2021 in order to promote business friendly tax culture in the country, besides saving taxpayers from harassment.
In a press release issued here on Thursday, business community of federal capital expressed reservations over the introduction of Sections 203B to 203I in ITO 2001 through Finance Act 2021 that authorizes the arrest of a taxpayer on the pretext of concealment of income.
They urged the government to revoke it as it would open new avenues of taxpayers’ harassment and enhance the prospects of corrupt practices in tax matters.
Sardar Yasir Ilyas Khan, President ICCI said that the tax authority’s main role is to collect taxes and this role should be performed in a congenial and friendly environment instead of making arrests of taxpayers who are very respectable persons of the society.
He said that taxpayers are the persons who contribute to the national exchequer and play a key role in promoting the national economy.
Therefore, he urged for treating taxpayers with great respect instead of introducing new sections in income tax law to arrest them.
He said that introduction of such sections in tax laws would not serve the purpose of the country, rather it would shatter the confidence of taxpayers and discourage potential investors from investing in Pakistan.
He said that instead of introducing sections to arrest taxpayers, preference should be given to laws for providing attractive incentives and awards to high taxpayers that would help in broadening tax base and motivating others to become tax filers. —Agencies