All revenue collection bodies should be merged into one ministry or body: FPCCI Regional Chief Manzoorul Haq Malik
LAHORE: The discretionary powers of Federal Board of Revenue officer are being used to harass business community and industrialists that is disturbing healthy business activities via raiding at business premises and investigative official records. Tax anomalies related the discretionary powers given to the Federal Board of Revenue officials should also be amended or withdrawn immediately.
This was the crux of the deliberation held at Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Regional office. Senior Vice President FPCCI Amir Atta Bajwa, Vice Chairman and Regional Chairman FPCCI Manzoorul Haq Malik and presidents and chairmen of all Trade Chambers and Associations of Pakistan were also present on the occasion.
It was stated that government should made efforts to bring non-registered tax payers into tax net instead of squeezing already registered tax payers. Tax return system should be simplified. Help desk of Punjab Revenue Authority should be established at each chamber of district. To enhance industrialization and raise job opportunities in the country all new industries should be given tax exemption for next five year. Separate accounts for Sales and Income tax return should be made. GST should be lower to 15% in this budget and efforts should be made to bring it to single digit in future.
Manzoor ul Haq Malik Vice President and Regional Chairman FPCCI said all revenue collection bodies should be merged into one Ministry or Body. This practice will support ease of doing business in Pakistan. Federal and Provincial Tax system should be harmonized. Double taxation should be discouraged. He said direct taxes should be encouraged instead of indirect tax system. He said Pakistan is at 144th number of ease of doing business ranking of World Bank out of the list of 190 countries which is alarming. Budget should bring such reforms that promote ease of doing business in the country.
