FPCCI lauds CBR amnesty to registered persons

Sheikh Maqbool Ahmed, Vice President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has appreciated the announcement of amnesty by Sales Tax Wing of Central Board of Revenue (CBR) exempting the amount of sales tax, additional tax and penalty to registered persons.
Sheikh Maqbool Ahmed said that the issuance of SRO 246(I)/2004 dated 5th May, 2004 which is in suppression of SRO 500(I)/2003 dated 7th June, 2003 exempting the amount of sales tax, additional tax and penalty even to already registered persons is a right step towards enlargement of tax base and encouragement of business entities to be registered under sales tax regime.
He thanked Abdullah Yousaf, Chairman, CBR and Shahid Ahmed, Member Sales Tax for accepting one of the demands of FPCCI made during the deliberations with them on the macro issues of FPCCI Budget Proposals 2004-2005.
He said that the removal of anomaly in SRO 500(I)/2003 by the recently announced SRO 246(I)/2004 will encourage persons to be registered under sales tax and thus increase government revenue.
Sheikh Maqbool Ahmed further appreciated the issuance of SRO 247(I)/2004 dated 5th May 2004 exempting the amount of additional tax and penalty payable in excess of the amounts against whom any amount of sales tax is outstanding in terms of an audit observation, audit report, demand notice, assessment order, adjudication order, to the persons who failed to pay any amount of sales tax or took inadmissible adjustment of input tax or due to any other reason.
He was of the view that the announcement of the amnesty will resolve a number of cases resulting in the net increase of the government revenue.
Sheikh Maqbool Ahmed advised the business community who are still not registered or facing litigation to avail of this opportunity before the expiry date of June 20, 2004.
He hoped that the government will resolve the other macro issues and irritants highlighted by FPCCI in its Budget Proposals in the way of strengthening of tax culture and enlargement of tax base in the country in the forth coming budget.