Imposition Of Fixed Tax System In Consultations With Businessmen: FBR

PESHAWAR, (UrduPoint / Pakistan Point News - 28th Sep, 2022 ) :Member Inland Revenue (IR) Operations, Federal board of Revenue (FBR), Malik Amjad Zubair Tiwana has said that with the consultations of business community/retailers, the federal government was bringing fixed tax system, which would prove a milestone for improvement in the national economy.

He was addressing a video link conference of chief commissioners in Regional Tax Offices (RTOs) and business community from across the country the other day, said a press release issued here on Wednesday.

He said that the officers of FBR were working day and night to finalize the plan and procedure for the proposed tax system and introduction of the fixed tax on the basis of the volume of business. He said they were moving forward in a confidence building environment with the trading community.

The member IR Operations said that for the scrutiny of the proposals and giving them practical shape a national-level final meeting of the trading community and leadership of the chambers of commerce would be convened soon.

The chief commissioners and representatives of the business community expressed their views regarding the proposed fixed tax system and presented their recommendations to Member IR Operations and FBR authorities.

The representatives of the business community, including Malik Meher Elahi and Sharafat Ali Mubarak, while participating in the debate strongly opposed the levy of fixed tax through electricity bills and said that they were ready to pay only income tax and not sales tax.

They proposed publishing of the one-pager form of tax returns in simple urdu language and evolving of formula and strategy for fixation of different categories in consultations with president of the bazaar concerned to bring non-filers into the tax net and imposition of fixed tax on the basis of the volume of business.

On this occasion, the trading community and representatives of chambers from all cities including Karachi called for provision of security to the trading community to protect them from harassment under the fixed tax system for a period of at least five years and exemption from audit.

The business community was of the opinion that the people would come into the tax net voluntarily that would help in collection of big revenue to stabilize the national economy.