RAWALPINDI – Chairman Federal Board of Revenue (FBR) Shabbar Zaidi hasassured business community that no raids would be conducted on registeredTax payers for income tax or sales tax purposes.
According to a press release issued here Friday, said that the delegationof the Rawalpindi Chamber of Commerce and Industry (RCCI) led by PresidentSaboor Malik who met with him at his office, FBR Chairman also sought helpand cooperation from traders in addressing menace of smuggling.
On the occasion, Saboor Malik shared and apprised the FBR Chairman aboutthe concerns of the business community.
The RCCI President said that national economy is passing through difficulttimes and we required better partnership with the FBR in joint effortstowards revival of the economy.
He said that such raids and closure of business centers propagate negativemessage in the markets. It also hurt the honor, respect and goodwill of thebusiness center and market as well,he added.
RCCI President said that actions and raids at business center must bestopped on the account of smuggled goods.
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FBR Chairman assured traders that powers of penalties would be given tohigher authority not below than Member FBR, who would evaluate theauthenticity and then give permission if required.
“ Turnover tax will be reduced to small traders and businessmen on casebasis and its threshold will be increased.
Hajj Companies payment to Saudi Arabia under section 152 will be evaluatedand exempted from withholding tax”, he added.
