Karachi: Pasban Public Issues Committee chairman Abubakar Usman has said that traders have been facing immense problems and they cannot file their tax returns due to poor performance of FBR website, IRIS.
In a statement here Wednesday, he said that the lion’s share of national tax comprises the tax amounts collected from the traders; however, the government is not serious to resolve their genuine issues. He said the government is yet to show a serious attitude to resolve the reservations of traders on the issue of bank withholding tax. He said despite the traders play a major role in boosting economy through paying tax; still they are being considered as tax evaders by the government. He said the traders serve the nation and economy by supplying people the daily-use commodities and creating new job opportunities.
Abubakar Usman said the government taking in consideration these services of the traders should abandon its strictness on the issue of bank withholding tax and hold dialogue with them and give them a better policy package. He said this tax has created a big crisis and the whole banking sector in Pakistan has been facing uncertainty and a sure disaster is ahead if this issue is not resolved amicably. He said the government should widen its tax net and give incentives to the new NTN holders. It should exempt the investors from disclosing their source of capital so as to boost investment. He said if these suggestions are followed they would serve the purpose of documentation of economy.
The Pasban leader said after deduction of withholding tax through bank transaction the deducted tax money automatically comes to the national revenue. Therefore, these bank account holders should not be considered as non-filers of tax or unregistered tax filers and they should be exempted from any adverse action so that their confidence on the tax system grows and they agree to become the NTN holder tax filers. He said that the money wasted through corruption should be saved and used to bridge the budget deficit.