Finance Minister Sheikh Abdul Hafeez should intervene and help for withdrawal of amendments in Sales tax and Federal Excise duty return forms, which were very complicated and it is not possible for the tax-payers to fill the eleven pages return forms.
The Multan Chamber of Commerce and Industry took a strong exception to the Federal Board of Revenue for introducing amendments to be incorporated in Sales Tax and Federal Excise Duty Return Form. In a statement issued here, the MCCI President Shahid Naseem Khokhar said that the MCCI has very strong apprehensions that the proposed amendments will have devastating effect on the businesses in Pakistan. He said that the proposed return requires to feed details of each and every sale or purchase transaction/invoice at the time of online submission of return. It will almost be impossible to provide details of each and every transaction online. Secondly it will increase the cost of compliance for the tax payers who are already facing the brunt of sheer price hike, economic recession and poor security situation in the country.
Shahid Naseem Khokhar said that the proposed return also requires that NTN or CNIC number of each and every purchaser or seller. He said that given the literacy rate in the country and lack of compliance culture in general masses it will be very difficult to obtain such personal details from the buyers or sellers of the goods. Furthermore, there is another requirement to provide summary of stock on monthly basis. This is also not practically possible.
"We feel that the tax department is shifting its burden of monitoring and tracking of the tax system on business community, which is unjust and unethical. We urge the Government to make simple and easy procedures for increasing revenue collection, as people do not want to join the tax net due to the complex taxation system. The MCCI President urged Finance Minister Dr Abdul Hafeez Sheikh to help withdraw the proposed amendments.