The requirement of Form D relating to the personal expenditures of individual tax payers which includes the details of expenditures on personal phones other utilities, children education and other personal expenditures have been demanded.
Although it is a step forward for the documentation of economy but there was great trust deficit exists between the tax payers and tax officials. Small traders are frightened as this step may also leads to tax harassment, Shahid Zaman Shinwari, Vice President, Islamabad Chamber of Commerce & Industry (ICCI) has stated this in a statement.
On the demand of small traders, Islamabad Chamber of Commerce & Industry urged the FBR to take small traders in confidence so that they could file their returns and deposit the tax in the government treasury.
He emphasized on winning the public confidence by improving governance, eradicating corruption and pursuing equitable tax policies were essential for revamping tax collection system, and unless some concrete measures was taken on these lines, then the anxiety about not being able to pull the economy out of mounting debt and public expenditure would linger.
FBR should address the income tax issues faced by small traders-Shahid Zaman Shinwari
- November 22, 2011