Karachi, February 29, 2016 (PPI-OT):The Union of Small and Medium Enterprises (UNISAME) have urged the Federal Board of Revenue (FBR) to extend the last date of filing returns under the voluntary tax compliance (VTC) scheme upto 30th June 2016. President UNISAME Zulfikar Thaver said FBR must have realised the reasons for the very poor response and pinpointed the various reasons for its failure.
First of all according to income tax practioners the scheme was very poorly promoted It lacked lustre and was not explained in the media effectively with its benefits as a very good scheme. He said there are many if and buts in the scheme which need clarification. The tax practioners are not satisfied and until they are convinced they would not be in a position to convince their clients who are dependent on their consultants.
Thaver said the SMEs whilst appreciating the amnesty offered still feel there is a trap to corner them. Some have raised the question of claims coming up after 3 years from sales tax departments and feel the yearly progressive taxation condition burdensome.
Thaver urged the FBR to consider the apprehensions of the sector and sit with the tax practioners and UNISAME SME Council and make the necessary amendments in the scheme and extend it to accommodate the SMEs in letter and spirit.
He said the SMEs are willing to file the returns and become filers but the trust deficit has to be filled with confidence that the FBR scheme is business friendly and has no intention to create problems or burden the tax payers more than necessary.
For more information, contact:
Union of Small and Medium Enterprises (UNISAME)
75/1 3rd Commercial Street,
Phase IV, D.H.A., Karachi, Pakistan
Cell: +92-300-8245307, +92-321-8245307