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
PESHAWAR
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 is 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 through video link, the other day, said a press release issued here on Wednesday.
He said that the officers of FBR are working day-night to finalize the sketch and procedure for the proposed tax system and introduction of the fixed tax on the basis of the volume of business. He said that they are 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 participatory 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 are ready to pay only income tax and not sales tax.
They proposed that the 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.
