FBR Chairperson assures to give due consideration to ICCI budget proposals

ISLAMABAD: Chairperson Federal Board of Revenue (FBR) Nausheen Javed Amjad Thursday said that budget proposals sent by Islamabad Chamber of Commerce and Industry (ICCI) would be given due consideration in the federal budget 2020-21.
Nausheen Javed Amjad said this while talking to President ICCI Muhammad Ahmed Waheed who called on her at her office along with Malik Sohail Hussain, Chief Coordinator UBG, FPCCI.
The FBR chairperson assured that the process of tax refunds payment would be accelerated to address the liquidity issues of business community. She said the role of business community was important in the economic development of country and FBR would try to facilitate them in tax matters for business promotion.
Speaking on the occasion, Muhammad Ahmed Waheed highlighted many tax related issues of business community that need close attention of FBR for redress. He said that due to the situation created by Covid-19 pandemic, businesses and industries have suffered huge losses and in these conditions, FBR should play role to facilitate them in tax matters for revival of business activities.
He said that ICCI has sent comprehensive and sector-wise budget proposals to FBR of various sectors including steel, cooking oil & ghee, steel re-rolling, real estate, furniture and others that should be included in the final budget to address their tax issues.
He further said that huge amount of income tax and sales tax refunds was pending with FBR due to which business community was facing liquidity issues and suggested that FBR should speed up the process of their payment or allow their adjustment against payable taxes. He said that adjustment of tax refunds against payable taxes would provide good relief to business community at a time when businesses are suffering from the impact of Covid-19 pandemic. – TLTP

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