FAISALABAD: A balanced, transparent, compliant and business supportive sales tax system is imperative and the FBR as well as business community must collaborate to achieve these objectives within the given circumstances.
This was stated by Faisalabad Chamber of Commerce & Industry (FCCI) President Rehan Naseem Bharara, here. He said the FCCI fully supports the Federal Board of Revenue’s efforts to tackle tax fraud and promote transparency in sales tax practices. “Eliminating fake and flying invoices is essential for a fair tax system,” he said and added that the FCCI recognises the importance of addressing these serious issues but the recent action taken by FBR without giving prior notices and targeting the businesses have created harassment.
He said that the requirement for CFOs to submit monthly affidavits alongside sales tax returns has raised concerns within the business community.
He urged the FBR to address these issues with chambers and trade bodies for a balanced approach to ensure a transparent tax system that supports businesses while ensuring compliance.
He said that FCCI is fully committed to collaborate with the FBR in developing a practical solution that promotes both transparency and ease of doing business.
