Karachi: Senator Haji Ghulam Ali, President, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and other Business Community leaders Mr. Tariq Sayeed, Vice President CACCI, Founder and Former President SAARC CCI and Former President FPCCI, Mr. S. M. Muneer, President, India-Pak CCI and Former President FPCCI, Mr. Iftikhar Ali Malik, Vice President SAARC CCI and former President FPCCI, Mr. Dawood Usman Jakhura, Mr. Khalid Tawab, Mr. Usman Sheikh, Mr. Shakil Ahmed, have demanded deferment of SRO 821(I)/2011 being enforced by FBR from 1st January 2012 making mandatory requirement on Registered Sales Tax sellers, manufacturers, importers and exporters belonging to all industrial sectors (except sugar) to issue invoices containing National Tax or CNIC numbers to their unregistered buyers and traders.
In a press statement and letter to Chairman FBR, FPCCI has expressed its point of view that the said SRO has caused a great deal of unrest and anxiety amongst the business community of Pakistan already confronted with many unnecessary challenges in the shape of shortage of gas and electric crisis.
All industrial activities are at halt and implementation of this SRO without taking the business community in confidence will further devastate the situation and a blow to economic activities which are already to the downward trend.
FPCCI has further alarmed that this mandatory requirement would restrain non-complaint taxpayers from reporting sales made to unregistered traders without disclosing buyers’ NTN/CNIC.
Representatives of all industrial sectors have also expressed resentment over the said decision terming it as an impractical and unrealistic measure, since unregistered buyers would either refuse to share their NTN/CNIC or switch to some other unregistered seller.
Implementation of SRO from the new financial year i.e. from 1st July 2012 on different sectors on priority-wise in phases has been suggested by FPCCI.
For more information, contact:
Muhammad Raza Khan,
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
FPCCI, Capital Office, Islamabad,
Former President, Haripur Chamber of Commerce,
Founder President, Islamabad Chamber of Commerce.
Tel: FPCCI +92-51-2251891-3. Fax +92-51-251894
Tel: Business +92-51-4434200-5. Fax +92-514434203