President of SITE Association of Industry (SAI) Asad Nisar has termed the new FBR Audit Policy 2016 as unfair and discriminatory. He expressed his dismay over the provision of re-audit of previous years' audited accounts which would be highly detrimental to the productivity of the businesses.
"This will certainly entail extra-financial burden for the business and implicitly become a coercive tool in the hands of the officials of the Federal Board of Revenue (FBR). Even the commercial importers who are already paying 3% value-added tax will stand exposed to such unnecessary scrutiny," he said adding expressing his grave concern about inclusion of NTN-holders and salaried as well as pensioners into the tax-net. According to him, this would also tantamount to harass the willing taxpayers.
Asad Nisar recommended that instead of any coercive tactics, FBR should endeavour to enhance its operational capacity and adopt business-friendly policies enticing business community to become voluntary tax payers. He also denounced the unilateral formulation of such important polices without any consultations with the representatives of the industrial and business communities who are the backbone of National Economy.