MULTAN-Chairman, Federal Board of Revenue, Dr Muhammad Irshad disclosed that the number of filers jumped to 1.4 million from 0.7 million while tax rate is being reduced 1% annually since this government came into power.
Addressing the members of Multan Chamber of Commerce and Industry (MCCI) at an Iftar dinner, he added that the filers are the backbone of the economy and nobody would be allowed to tease or harass them.
Referring to tax refunds, he declared that all income and sales tax refunds up to Rs one million would be paid till July 15 while other refunds exceeding this amount would be cleared by August 14-15. "Refunds worth Rs57 billion have already been given while issue of remaining will be resolved very soon too," he added. He said that the government is fully aware of the problems faced by the manufacturers, exporters due to financial crunch and their grievances would be redressed on priority.
He declared that the Universal Self Assessment scheme would not be restored because traders concealed the facts to cheat the tax system. He further announced that no surprise visits of businesses would be conducted as he wanted to establish friendly relations with business community.
He hoped that the growth in private sector would help increase revenue. He said that the trading and business community and the government were not enemies and they should see one another as friends as both had the same objectives. He said that misunderstanding is the major reason of problems therefore regular liaison with the business community is being ensured to tackle this issue. He suggested formation of an Advisory Committee having representatives from public and private sectors.
He said that there is no tax on input or output in zero rated regime and government extended maximum support to the export-oriented industry. He said that there would be no surprise inspection of the business premises. Concerned businessmen would be informed well before the time and all work would be done in friendly atmosphere. He urged the businessmen to cooperate with the department for pending audit cases. He said that forthcoming budget is well consulted and based on the theme of revival of the economy.
Speaking on this occasion, the MCCI President Khawaja Jalaluddin Roomi highlighted the areas where the trade and industry expected relief from the FBR. He said that the policies should be aimed at widening the tax net rather than taxing the already taxed.