Tax laws

FPCCI denounces ordinance on “unfair” tax laws – Journal

KARACHI: The Federation of Chambers of Commerce and Industry of Pakistan (FPCCI) on Monday called “the Tax Laws Ordinance 2021 (Third Amendment)” unfair and called on the government to suspend it until that all stakeholders have been consulted.

In a statement, FPCCI President Mian Nasser Hyatt Maggo said the ordinance – which entered into force on September 15 – conflicts with Finance Minister Shaukat Tarin’s vision of full consultation with all stakeholders. “The ordinance contains budgetary measures and these cannot be taken without proper consultation with stakeholders,” he added.

Mr Maggo lamented the Federal Board of Revenue’s (FBR) ‘s extensive powers in allowing it to disconnect mobile phone, electricity and gas connections from non-income tax filers. The new ordinance also empowers the National Accountability Bureau to open income tax records as old as 20 years by accessing tax records through the National Database & Registration Authority.

“It was the FPCCI’s proposal to disconnect the connections of commercial and industrial non-registrants. However, this ordinance does not take into account the due and fair procedure of separation of the executive and adjudication. The ordinance vaguely mentions undervalued income tax filers and gives general discretionary powers to income tax officers, ”the statement said.

Posted in Dawn, September 21, 2021

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