Pakistan Businessmen and Intellectuals Forum (PBIF) President Mian Zahid Hussain has urged upon the Federal Board of Revenue (FBR) to early release refunds to exporters. He also said that the taxpayers should undergo only one audit, as according to him multiple audits increased the cost of doing business. Speaking to a delegation of exporters, he said that the delay of nine months on the part of FBR in releasing refunds had hit the ability of many exporters to get new orders. "Some exporters are left with no option but to find financing on high interest rates to fulfil their commitments," he added.
He said that the practice of postponing refunds for a long time had affected the business environment besides hurting relations between the government and businesspeople, therefore, this practice should end. He said that the Federal Board of Revenue (FBR) was delaying release of cheques to exporters despite the issuance of Refund Payment Orders (RPOs), which he added was injustice.
"The business community is already facing many problems, therefore, it should not be made to pay for low tax collections and budget deficit, which is not their fault," he said. He said that FBR should release cheques within one week of the issuance of RPOs but it had not been observed since September last year, which was disappointing. Hussain also questioned the software being used by the tax authorities, saying that it had reduced efficiency of the already sluggish system. He was of the view that FBR needed to evolve a mechanism for distinction between good and bad taxpayers. "FBR should maintain a database of clean taxpayers who should enjoy swift processing as a reward for their honesty," he said.
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