Multan, November 29, 2016 (PPI-OT): The business community of Southern Punjab has sharply reacted on the “Audit Policy 2016” describing it unjust and trouble making and urged the Federal Board of Revenue (FBR) to avoid implementation of Audit Policy 2016 till the resolution of business community’s reservations. Multan Chamber of Commerce and Industry (MCCI) President Khawaja Jalaluddin Roomi has said “Federal Board of Revenue should not act as trouble maker but to act as facilitator for the business community”, The MCCI President suggested the Federal Board of Revenue to complete its homework first and remove the flaws in its own system.
The Audit Policy 2016 will open the “Pandora Box” of corruption, he added. Roomi said that reportedly FBR has approved the Audit Policy 2016 without taking the stakeholders into confidence. There is a major policy shift that already audited taxpayers can be reselected for audit through the new policy which is by no means acceptable to the business community. We propose to exempt the already audited taxpayers for at least 2 years, he added. He said that under the new Audit Policy 2016 all NTN holders, salaried person and even pensioners have come into “audit net” that is a sheer injustice.
He said that according to previous practice, export sector was allowed to get exemption from audit after paying one percent additional tax but this facility is being withdrawn in the new policy. Jalaluddin Roomi urged the Federal Board of Revenue (FBR) to avoid sudden policy shifts in the larger interest of the trade, industry and economy. He said that abrupt changes in trade and industry related policies and lack of consultation with the stakeholders are emerging as a big challenge for the business community.
He said that Pakistan ranked 156th as far as ease of taxpaying system is concerned. It is because of unjustified taxation system and lack of consultation with the stakeholders. MCCI Chief said that FBR should guide the taxpayers but instead it is penalizing the people. “In such scenario who will be willing to come into the tax net?” he asked and urged the FBR not to implement Audit Policy 2016 without taking the stakeholders on board.
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