The Islamabad Chamber of Commerce & Industry has welcomed the initiative of NAB for withdrawing the income tax and sales tax notices against the business community and termed it a positive step as it would end the element of harassment in the business community and enable them to focus on promoting business activities with more confidence.
The Islamabad Chamber of Commerce & Industry has welcomed the initiative of NAB for withdrawing the income tax and sales tax notices against the business community and termed it a positive step as it would end the element of harassment in the business community and enable them to focus on promoting business activities with more confidence.
Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce & Industry said that Chairman NAB few days ago in a meeting with FPCCI had announced that NAB had withdrawn the notices it served on the members of business community in connection with income and sales tax cases which has been widely welcomed by the stakeholders. He said the Chairman NAB had further said that the bureau would stop pursuing income tax or sales tax related cases against businessmen and would refer them to tax authorities for investigations and added that by implementing his decision, Chairman NAB has earned the goodwill of the business community.
ICCI President said that business community was fully supportive of the initiatives of NAB for eliminating corruption from the country as corruption has caused losses of billions of rupees to the national economy. However, he said that FBR was the right authority to pursue the income and sales tax cases of the private sector and NAB has taken a wise decision by referring such cases to the tax authority. He said that due to some moves of NAB officials, business activities were suffering and no new investment was being made in the country. Therefore, NAB has saved the business community from further troubles by withdrawing income and sales tax cases against them. He also thanked the federal cabinet for deciding to make some procedural changes in the working of NAB to promote a business- and investment-friendly environment for the revival of the ailing economy and hoped that it would yield good results for the country.
ICCI President also lauded the initiative for setting up a special desk at NAB headquarters to protect the interests of business community. He said that Pakistan urgently needed to promote trade, industrial and investment activities for reviving the economy. He hoped that the measures being taken by the government to restore the confidence of business community would pave way for putting Pakistan on the path of sustainable economic growth.