Pakistan Hosiery Manufacturers Association (PHMA) has opposed deputation of Sales Tax officials on the business premises of manufacturing units and other business establishments for monitoring production and other records and urged the government to review this decision.
In a statement here on Friday, chairman PHMA and senior vice president KCCI, Jawed Bilwani said it was another fatal stab in the back of value added apparel and textile sector. "This is the FBR's Order to the Collectors of Sales Tax to invoke the harsh provision, Section 40 B of the Sales Tax Act 1990. Earlier, FBR had ordered restoration of all kinds of Sales Tax Audit, which was very much disturbing and not at all a pragmatic step.
He said that previously when such Sales Tax Audit had ended, revenue generation had increased greatly which was indeed beneficial to the FBR and the nation. During the tenure of the previous Chairman, FBR, owing to creation and introduction of business-friendly policies, the environment had greatly improved and much revenue was generated.
Even in the current year's initial 2 months period, record revenue was collected by FBR. Furthermore, the black sheep in the business community as well as in the departments were accountable and rounded up, he added. He appealed to the government to seriously review the above orders and ensure withdrawal of same forthwith in the best interests of our nation's economy and exports.-PR