MQM Pakistan’s MNA and Chairman of the Standing Committee on Industry and Production, Syed Hafeezuddin, has raised concerns over the newly imposed advance tax, urging National Assembly Speaker AyazSadiq to form a parliamentary committee. In a letter to the Speaker, Hafeezuddin highlighted the growing unease among traders and called for the Federal Board of Revenue (FBR) Chairman to be held accountable for issuing advance tax notices. Hafeezuddin noted that traders across Rawalpindi, Karachi, Lahore, Peshawar, Azad Kashmir, and Gilgit-Baltistan are alarmed by the new tax policy.
The policy imposes taxes on both filers and non-filers based on property and rental values, with rates determined by the FBR. He described the tax, which is set at Rs 60,000 per shop per month in some markets, as “oppressive,” particularly as it includes legal fees associated with filing tax returns. Many traders have already received notices under the new policy, with threats of legal action for non-payment.
