Image Credits: Associated Press of Pakistan
Islamabad, August 28 (Online Int’l): Dr. Muhammad Ashfaq Ahmed, Member (Inland Revenue -Operations), FBR said that FBR would clear all pending refunds of the business community with a backlog and the ICCI should share the list of pending refunds and exemption cases to address them. He said this while addressing the business community at the Islamabad Chamber of Commerce & Industry. He visited ICCI along with Zubair Khan Secretary Sales Tax, Nasir Janjua Chief IR Analysis FBR and others.
Dr. Muhammad Ashfaq Ahmed said that the current fragmented tax system was not helpful for sustainable growth of the economy and the FBR was working to carve out a new tax system to reduce direct interaction, and promote ease of doing business and transparency that would facilitate the taxpayers. This process would take 2-3 years and the business community would appreciate it. He said that the promotion of industry, trade and exports was the first priority of the FBR with revenue generation as a second priority as the promotion of businesses would translate into more tax revenue for the country. The new tax system would end harassment for taxpayers as direct interactions would be replaced with video link meetings for hearings.
He said that the FBR would adopt an e-audit policy to select minimal cases for audit through the system and promote transparency. He said that all big cases have been shifted to Large Taxpayer Units and Regional Tax Offices would now deal with small traders/businesses with focus on news taxpayers. He said that a Corporate Tax Office would be set up in Islamabad to handle the corporate tax cases.
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