LCCI urges FBR to form business friendly policies

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.

In a statement issued here 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 option but the RTOs / 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.

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 that 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 said 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 a judge. What justice one can expect of such an institution, the LCCI Vice President asked.

The post LCCI urges FBR to form business friendly policies appeared first on Pakistan Press International.

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