Staff Reporter
Islamabad
President of Islamabad Chamber of Commerce and Industry (ICCI), Sardar Yasir Ilyas Khan has called upon the Federal Board of Revenue (FBR) to revise its policy for mandatory update of taxpayers’ profiles as it has created additional difficulties for the business community and was discouraging the potential taxpayers from coming into the tax net.
In a statement issued on Wednesday, he said that about 2.3 million tax returns were filed in Pakistan, and one of the main reasons for the filing of low returns was the FBR’s tough laws for the taxpayers due to which many eligible taxpayers were preferring to stay away from coming into the tax net.
Sardar Yasir Ilyas Khan stressed that instead of simplifying the difficult tax laws, the Income Tax Ordinance was amended through Finance Act 2020 to make it mandatory for taxpayers to submit their profiles along with income tax returns.
