PESHAWAR
\nOn recommendation of the Sarhad Chamber of Commerce and Industry, Chairman, Federal Board of Revenue (FBR) Malik Amjid Zubair Tiwana has formed a committee, consisting of nominated members of the chamber and FBR officers, aimed at to resolve business community and taxpayers issues of Khyber Pakhtunkhwa.
\nFuad Ishaq, president of the chamber demanded the simplifying the present tax system, bringing tax ratio to single digit, equalizing tariff of 224 items to Afghanistan duties\/tariffs, special incentives, along five years exemptions on income, sale tax and custom duties and utilities bills of the business community of the province.
\nThe SCCI chief asked to avoid burdening existing taxpayers with new taxes and initiatives should be made to broaden the tax-base.
\nAccording to the details, the FBR chairman Malik Amjid Zubair Tiwana visited the chamber house and held a meeting with the business community, which was chaired by the SCCI president Fuad Ishaq, said in a press release issued here Friday.
\nThe meeting was attended by the SCCI\u2019 senior vice president Sanaullah Khan, vice president Ijaz Khan Afridi, Senator Mohsin Aziz, Senator Nauman Wazir, Member Inland Revenue Islamabad Mir Badshah Gul Wazir, Chief Commissioner RTO Peshawar Zafar Iqbal Khan, Chief Collector Customs KP, Saeed Mukaram, collector Custom Enforcement Khawaja Kurram, former presidents of the SCCI Zahidullah Shinwari, Haji Muhamamd Asif, Riaz Arshad, Malik Niaz Ahmad, Faiz Muhammad Faizi, Zulfiqar Ali Khan, and members of the chamber executive committee, traders, industrialists and others.
\nFuad Ishaq apprised FBR chairman about reservations and difficulties of business community owing to closure of Torkham border and urged government and relevant authorities take tangible steps to keep open the Torkham border for carrying out smooth cross border trade.
\nThe SCCI chief also informed the meeting about apprehensions of the business community regarding POS system, WHT, high ratio of various taxes, wrong assessment, cost of digitization, complications in tax system and gave a number of proposals for their amicable solution.
\nThe FBR chairman agreed with proposals presented by the SCCI president during the meeting and said FBR and all relevant institutions are interconnected and established a close liaison among them, adding that FBR has brought reforms to simplify the tax system and ease difficulties of taxpayers and the outcome of these initiatives are very promising.
\nAmjid Tiwana informed that owing better border enforcement, Afghan transit trade has brought down to $ 2billion, which earlier stood at $6.85billion, which has eliminated the smuggling to some extent.
\nAccording to a rough estimate, the FBR chairman said 50 per cent Afghan transit trade has been cut down, which is highly appreciable.
\nFollowing the directive of the prime minister, the FBR Chairman said that initiatives have been taken to provide relief to the business community of KP, adding that despite the IMF pressure, the government has extended tax exemption for next one year to KP\u2019s merged districts and PATA region.
\nSimilarly, he said 40 per cent payment of refunds had been given to the business community, saying that FBR was paying Rs35 to Rs 40 Billion in head of refunds to businessmen every year.
\nOn the occasion, Senator Mohsin Aziz, Senator Nauman Wazir, former presidents, traders and industrialists also spoke on the occasion and apprised the FBR chairman regarding various issues and gave viable proposals and solutions to them.<\/p>\n","protected":false},"excerpt":{"rendered":"
PESHAWAR On recommendation of the Sarhad Chamber of Commerce and Industry, Chairman, Federal Board of Revenue (FBR) Malik Amjid Zubair Tiwana has formed a committee, consisting of nominated members of the chamber and FBR officers, aimed at to resolve business community and taxpayers issues of Khyber Pakhtunkhwa. Fuad Ishaq, president of the chamber demanded the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-383357","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n