Chairperson FBR assures to consider budget proposals of business community
- May 21, 2020
Ms. Nausheen Javed Amjad, Chairperson, Federal Board of
Revenue said that budget proposals sent by Islamabad Chamber of Commerce
and Industry (ICCI) would be given due consideration as they would be helpful in
finalizing the Federal Budget 2020-21. She said this while talking to Muhammad
Ahmed Waheed, President, Islamabad Chamber of Commerce & Industry who
called on her in her office along with Malik Sohail Hussain, Chief Coordinator
UBG, FPCCI.
Ms. Nausheen Javed Amjad 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 at the occasion, Muhammad Ahmed Waheed, President, Islamabad
Chamber of Commerce & Industry highlighted many tax related issues of
business community that needed 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
Islamabad Chambers of Commerce & Industry have 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.
Muhammad Ahmed Waheed 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.