The Lahore Chamber of Commerce and Industry has feared that the Federal Board of Revenue will be unable to meet its revenue target set for this year if the latter's anti-business measures, such as its surprise raids on businesses and attachment of business accounts, never cease. LCCI President Ijaz Mumtaz in a statement on Tuesday has claimed that numerous chamber members have complained about the FBR raids at various business houses and freezing accounts without prior notice, which is totally illegal.
LCCI President Mumtaz in his statement said, "Attachment of the bank accounts should be the last option but the RTOs and LTUs are wasting no time in taking punitive action to meet the revenue targets. The FBR was established to assist businessmen but it is presently doing the other way around. The FBR should not act as a trouble maker but as a facilitator in the larger interest of the business community, trade and economy." "These acts of the FBR are not only defaming the government but also vitiating the business atmosphere in the Punjab. The board should focus on expanding the tax net and curbing the menace of smuggling rather than on controlling under invoicing and playing arm-twisting by instituting cases for recovery of outstanding dues and attaching the bank accounts.
"It is unfortunate that the FBR is creating trouble for the businessmen for the recovery of its outstanding dues just to meet the revenue target and for the sake of performance. There should be a level-playing field in this regard. If a tax defaulter is liable to penalties and to attaching the bank accounts, the same should apply to the board's functionaries if they fail to release the valid refunds of the businessmen. Accountability in this regard will force the board officials to expedite the payment of refunds," he said.
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