ISLAMABAD - The Senate Standing Committee on Finance and Revenue on Tuesday took a serious notice of the raids on the business community by the Federal Board of Revenue (FBR) and summoned all chambers of commerce and industries, FPCCI and Ministry of Finance in next meeting.

Senate Finance Committee Chairman Senator Saleem Mandviwalla denounced the FBR raids on business premises and said that he would take up the issue in Finance Committee.

In a statement issued from his office, Mandviwalla said, “Business community is complaining and protesting against the FBR raids, it came into my notice that FBR officials are not only hurling arrest threats on the owners of the manufacturing units but also confiscating record of their units”.

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He further said, “I had received a number of complaints of FBR officials using arm-twisting tactics against businessmen under the grab of sales tax act 38b and 40b, which grant them special powers to raid the business premises”

Mandviwalla condemned the raids on business premises and markets by the FBR staff, and said that such tactics by the FBR are adding to the miseries of the business community and also promoting a trust deficit between the government and the business community.

Senator Mandviwalla said, “These laws have kept a large number of potential tax-payers out of the tax regime. In fact these laws are a deterrent to broadening of tax-base and resulted in promoting the culture of tax-evasion.” He also criticised the FBR for issuing undue notices to business community, creating unrest among them.