FBR to present simplified ST/IT return forms

Karachi, June 07, 2013 (PPI-OT): The Federal Board of Revenue (FBR) has assigned the budget and taxation committees of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to simplify the income tax and sales tax return forms for taxpayers.

In a follow-up meeting with the negotiating team of FPCCI on budget proposals comprising Chairman FPCCI Budget Committee Zakria Usman, Chairman Taxation Committee, Shaukat Ahmed and Chairman Customs and Valuation Committee, Shakil Dhingra the other day, the FBR Chairman Unsar Javed has assigned the task to simplify the sales tax and income tax return forms in order to facilitate the taxpayers and help them to file their returns sans any complications. The FBR would soon send the forms for the purpose to the FPCCI very soon, Shaukat Ahmed said.

He said that budget and taxation committees’ members had complained about the complicated forms tax returns that are also a factor in increasing the taxpayers and causing reluctance of the new taxpayers to get into the tax net. Shaukat said that FPCCI team has suggested the FBR to make the forms extremely simple and as easy as a common man could be able to fill it out.

He said that the FPCCI team has also suggested the FBR to announce tax credit to the newly established industrial undertakings in the forthcoming budget so that dying industrial sector could be given a breathing space and to bring investment. It was also suggested to develop simple rules and regulations for the retailers, wholesalers and transporters to attract them to become taxpayers. It also asked for an amnesty scheme for improving investment climate and industrialization for growth of economy and reduction in poverty.

They urged upon the FBR to withdraw the laws creating avenues for generation of black money and develop such law that will create clear and measurable difference between the taxpayers and non-taxpayers. The team also demanded to declare machinery import as zero-rated and withdraw all kinds of taxes on import of industrial and export-oriented raw-material and machinery.

The team also demanded of the FBR chief to do away with SRO culture to end up frequent changes in policies and fix a standard rate of sales tax, Shaukat concluded. The meeting was also attended by the Advisor to the FBR Abdullah Yousuf, Members FBR on sales tax, customs and income tax.

For more information, contact:
Syed Masood Alam Rizvi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Karachi-75600, Pakistan
Tel: 0092-21-35873691, 93-94
Fax: +9221 3587 4332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk