On the request of Federation Pakistan Chambers of Commerce and Industry (FPCCI), the Federal Board of Revenue (FBR) Friday decided to suspend the audit of taxpayers for 30 days. During a visit to the Federation House, Chairman FBR Dr Muhammad Irshad, on the request of President FPCCI Zubair Tufail, announced that his organisation wanted to immediately stop the audit being conducted by FBR. He also said that the issue would be resolved with consultation of FPCCI. He also invited the FPCCI to Islamabad for a dialogue on the audit issue.

He said that FBR has changed the services structure and focus is now on tax broadening instead of levy of a higher tax rate on taxpayers. He said that the payment of pending refund claims is top priority of FBR and so far some Rs 65 billion has been paid during this fiscal year.

He said that mainly government incentives cause a negative impact on the tax revenue. Since the federal government has announced an over Rs 180 billion relief package for exporters, now they are required to pay tax honestly, he added. He asked the business community for submission of their budget proposals. Earlier, in welcome speech Zubair Tufail president of FPCCI, said that the present government of PML-N is business friendly and on FPCCI demand it recently-announced a Rs 180 billion relief package for exporters of five leading sectors.

"With great efforts of the present government economy is growing and we are expected to achieve a 5.7 percent GDP growth by end of this fiscal year," he added. While, the government has also removed the condition of 10 percent increase in export for six months.

He said that the government is fully supporting exporters and on the request of FPCCI, the federal finance minister has enhanced export package from Rs 120 billion to Rs 180 billion. He urged the government for an incentive scheme of 5 percent rebate for fruit and vegetable exporters. "Presently fruit and vegetable exports are to the tune of around $700 million and can touch one billion dollar mark with the government support," he added.

"As the government is facilitating the trade and industry, we are expecting that sick industries will be revived in coming months," Tufail said. He demanded that commercial exporters should also be included in the relief package. He urged the government that banks should be asked for financing of mega industrial projects to create more job opportunities in the country. President FPCCI also suggested privatisation of loss-making government entities including Pakistan Steel Mills and PIA. He appreciated FBR for online transfer of refunds and hoped that the remaining pending claims will be settled soon.

Copyright Business Recorder, 2017