Lahore, May 12, 2016 (PPI-OT): The Lahore Chamber of Commerce and Industry, in its budget proposals 2016-17, has urged the Federal Board of Revenue (FBR) to avoid harsh measures like attaching business accounts in the larger interest of the economy.
The LCCI President Sheikh Muhammad Arshad said that the acts like attachment of accounts are discouraging the businessmen.
He said that attachment of the bank accounts should be the last option but the RTOs/LTUs are wasting no time in taking punitive action to meet the revenue targets. He said that the Federal Board of Revenue was constituted to facilitate the businessmen but it is presently doing the other way round through.
The LCCI President said that the FBR should focus on controlling under-invoicing and curbing the menace of smuggling besides expanding tax net but it is playing arm-twisting by instituting cases for recovery of outstanding dues and attaching bank accounts.
Sheikh Muhammad Arshad said that it is unfortunate that the FBR is not releasing what it owes to the business community but creating troubles for the businessmen for the recovery of its outstanding dues just to meet the revenue targets and for the sake of show of performance.
He said that there should be a level-playing field in this regard. He said that if a tax defaulter is liable to penalties and attachment of bank accounts, the same should apply to FBR functionaries if they fail to release the valid refunds of the businessmen. Accountability in this regard would force the FBR officials to expedite the payment of refunds.
He also pointed out that it was very unfortunate that if the FBR initiates a case for recovery against any tax payer, he was not given any opportunity to plead his case as the FBR itself is complainant and itself a judge. What justice one can expect of such an institution, the LCCI president said.
For more information, contact:
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan