LAHORE - The Federal Board of Revenue and the chambers are not on the same page on issue of SRO 821(I) 2011, as the FBR wants documentation of the economy through SRO while the LCCI strongly opposes the implementation of this ordinance, believing that all untaxed sectors should be taxed.

“If the FBR was interested in broadening of tax net, it must bring the Agriculture sector into the tax net instead of creating troubles for the registered persons who were already doing businesses in the presence of multiple internal and external challenges.”

The Lahore Chamber came hard on Federal Board of Revenue (FBR) for trying to implement, what they called it, controversial SRO 821(I) 2011.

In a statement issued here, the LCCI President Irfan Qaiser Sheikh, Senior Vice President Kashif Younis Meher and Vice President Saeeda Nazar said that FBR was propelling false information.

The Chamber is firm on its stand and calls for early withdrawal of the SRO 821(I) 2011 as it is unrealistic and unjustified and any attempt to implement it would be resisted tooth and nail. The LCCI office-bearers said that the FBR should avoid implementing the SRO without the consultation of the business community for being the main stakeholders. They said that the SRO will have devastating effect on the businesses in Pakistan as the compulsory requirement of NTN or CNIC number of each and every purchaser or seller is practically almost impossible. They said that given the literacy rate in the country and lack of compliance culture in general masses it will be very difficult to obtain such personal details from the buyers or sellers of the goods.  They said that the said SRO will strangle the already crisis-hit businessmen in the country.

The LCCI feels that the Federal Board of Revenue is shifting its burden of monitoring and tracking of the tax system on business community which is unjust and unethical.

The LCCI President said that it is very difficult to understand that why the people sitting at helm of affairs at the Federal Board of Revenue do not consult the Chambers of Commerce and Industry in the country before issuing SROs or formulating business related policies.

The LCCI President urged the Federal Finance Minister Dr Abdul Hafeez Sheikh to help withdraw the SRO 821(I) 2011 as if such changes will be brought in the returns then coupled with the prevailing worst economic conditions business community will have no other option but to stop their businesses.