Islamabad
Friends of Economic & Business Reforms (FEBR) President Kashif Anwar on Saturday raising serious concern over the flaws in the proposed SME Policy, has stated that the new policy has not addressed all sectors of the economy.
According to details, Kashif, in a letter sent separately to Federal Board of Revenue (FBR) Chairman, Federal Industries Minister and SMEDA CEO said that draft of the SME policy does not even mention or discuss the EOAB, Social Security, PRA, Education Cess, Labor Department and several other provincial as well as and federal regulatory authorities, their rules and registrations issues.
“It is also very important to look at those SMEs, which are not manufacturers and whose turnover is more than Rs250 million, besides addressing their issues of Income Tax, Sales Tax, Statements, Withholding, Returns, Filings, Audits, fines, penalties and surcharges,” Kashif observed in the letter.
Kashif Anwar wrote that government has to educate, encourage and appreciate those enterprises which are afraid of the tax system. It will ultimately enhance the tax base and the revenue targets.
