Home - Business - LCCI urges the FBR to adopt harmonious policy

LCCI urges the FBR to adopt harmonious policy

Advertisements

LAHORE: The Lahore Chamber of Commerce & Industry has urged the Federal Board of Revenue (FBR) to form business friendly policies and promote consultation culture with the stakeholders as steps like attaching business bank accounts for recovery of outstanding dues were hampering the business growth, a press release came from LCCI dated February 23.

Advertisements

In a press release issued on Monday, LCCI Vice President Syed Mahmood Ghaznavi said that steps like attachment of accounts would push tax payers to the wall besides denting the reputation of a business-friendly government.

He said that attachment of the bank accounts should be the last but the Regional Tax Offices (RTOs) / Large Tax Payer Units (LTUs) are wasting no time in taking punitive action to meet the revenue targets. He said that the FBR was constituted to facilitate the businessmen but it is presently going the other way.

Advertisements

The LCCI Vice President said that the FBR, instead of focusing on controlling under-invoicing and curbing the menace of smuggling, besides expanding tax net, was arm-twisting by instituting cases for recovery of outstanding dues and attaching bank accounts.

He said, “It is unfortunate that the FBR is not releasing what it owes to the business community and instead creating troubles for businessmen to recover outstanding dues just to meet its revenue targets. He added 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 the complainant and judge.” “What justice one can expect of such institution”, The LCCI Vice President asked.

Earlier at the commencement of the month, the Lasbela Chamber of Commerce and Industry (LCCI), Hub, Balochistan had also denied the regulatory policy of FBR for imposition of regulatory duty on import of industrial products. It is the second time in a month that another chamber of commerce urges FBR to adopt business friendly policies and promote consultation culture with the stakeholders.

Check Also

Bahria Town, Hyatt Hotels sign deal for building Hyatt hotels in Pakistan

Advertisements Bahria Town, Pakistan’s largest real estate developer has signed in deal with  Hyatt Hotels for …

Leave a Reply

Your email address will not be published. Required fields are marked *