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FBR asked to expedite process of income tax exemption certificates

FBR asked to expedite process of income tax exemption certificates

LAHORE: The Progressive Group of businessmen and importers has demanded of the Federal Board of Revenue (FBR) to expedite process of issuance of Income Tax Exemption Certificates under sections 153 and 159 of the Income Tax Ordinance 2001 on imports.  “When the tax is being collected in advance than why so much hurdles and delays in issuance of exemption certificates?” they questioned.

Progressive Group President Khalid Usman and Vice President Muhammad Arshad Chaudhry have said that a number of complaints had been received by the groups from its members that the department was not issuing certificates despite the fact that tax had been collected in advance.  Unfortunately, they said that the department officials demand more deposit of advance tax for issuance of certificate along with hefty bribes, which is sheer injustice and against the law.

They said that non issuance of Income Tax Exemption Certificate is causing hardships for the businesses. They said normally the certificate is issued for the period of one year but now it is being issued for six months that is creating multiple problems for the businesses.

They said that the delay in issuance of Income Tax Exemption Certificate is encouraging the menace of smuggling that would destroy the national economy and would also open up the floodgates of corruption.

All the leading economies were giving incentives to expedite economic activities in their respective countries but in Pakistan the people who are sitting at the helm of affairs were doing the otherwise at this point in time when almost all the businesses were facing a number of internal and external pressures.

The private sector was ready to supplement all government efforts aimed at revival of economic activities in the country if they are provided breathing space but in the presence of such anti business tactics, it would be very difficult for the private sector to continue with their businesses.

They said that the Federal Finance Minister should take stock of the whole situation and issue directions to the officials concerned to issue Income Tax Exemption Certificates under section 153& 159 of the Income Tax Ordinance of 2001 on imports.