Non-filers asked to file tax returns
ISLAMABAD:
Haroon Akhtar Khan, Special Assistant to the Prime Minister on Revenue
has asked the non-filers to file their tax returns of 2014 by 28th
February 2016 and get exemption from withholding tax deduction on their
banking transactions, says a press release.
Addressing business community at Islamabad Chamber of Commerce and
Industry, he said that government has adopted a soft approach on
withholding tax and it was a good opportunity for non-filers to declare
their hidden assets, sales and turnovers honestly and file their tax
returns that would be accepted without questioning them. Mr. Shahid
Hussain Asad Member IR Policy and Mr. Nadeem Dar Member Facilitation FBR
were also present at the occasion.
Haroon Akhtar Khan said traders are doing legitimate business and they
should come into the formal sector. He said that government is facing
huge difference of Rs.1700 billion between revenue and expenditure and
it is ready to give more incentives in consultation with business
community to bring non-filers into the tax net to improve tax-to-GDP
ratio.
He said government is working to develop an integrated database that
will help in identifying all potential taxpayers. However, government
intends to improve tax collection by taking stakeholders on board. He
assured that no illegal action of FBR against taxpayers will be
tolerated and strong action would be taken against wrongdoers. He said
genuine complaints against tax matters should be forwarded to FBR
through Chambers and Trade Bodies that will be looked into for remedial
measures.
In his address, Muzzamil Hussain Sabri, President, Islamabad Chamber of
Commerce and Industry said that I&I Department of FBR should
immediately halt raids on business premises and forced debits from bank
accounts should also be stopped forthwith because such tactics are
creating lot of harassment in the businessmen. He suggested that one
house and one office should also be regularized in the wealth tax
statement. He said during pre-budget consultations, government did not
discuss WHT on banking transactions and imposed it unilaterally which
created problems.
He stressed that government should address concerns of traders on 0.3%
WHT and always consult with stakeholders including business community
before levy of any new tax to avoid any protests in future.M.
ShakeelMunir Senior Vice President and M. AshfaqHussainChatha Vice
President ICCI stressed upon the need of timely return of sales tax
refunds as billions of rupees of taxpayers refunds are stuck up with FBR
creating cash flow problems for them.
Abdul RaufAlam, Group Leader ICCI said that there is a communication
gap between the taxpayers and tax department due to which taxpayers are
losing confidence in FBR. He urged that FBR should always take business
community on board before imposing any new tax that will help in
broadening the tax base of the country. Zubair Ahmed Malik, former
President FPCCI said that government should control its own expenditures
and step up efforts to improve exports in order to improve fiscal
space.
Mian AkramFarid, Senior Vice President FPCCI, Mian ShaukatMasud, Atif
Ikram, Sheikh Waheed, Khalid Chaudhry, Nadeem Mansoor and others also
highlighted various tax issues including around 30% tax on rental
income, 5% tax on foreign education fee and requested FBR to look into
these matters to address concerns of taxpayers.
Source:onlinenews.com.pk
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