SRO published on FTO recommendations for the steel sector: Dr. Asif Mehmood Jah

Lahore, May 21: /DNA/ — Federal Tax Ombudsman Dr. Asif Mehmood Jah says FTO has provided relief to more than 1,900 taxpayers in the past five months, almost double that of the same period Last year. He said that the proposals from the pre-budget meeting convened by the FTO a few months ago had been forwarded to the FBR and other relevant agencies on which progress had been made.

Negotiations have started with It is expected that the suggestions of traders and manufacturers will be better taken into account in the next budget than in the past. Dr. Asif Mehmood Jah said that a number of suggestions made by him for tax system reform are likely to be implemented. He said that this organization is active in serving the people and solving problems as soon as possible. He said that FBR has also issued an SRO on FTO’s suggestions regarding the reduction of difficulties in the steel sector. He was addressing a budget seminar of the FTO Central Advisory Committee at the Lahore Chamber of Commerce and Industry.

Senior Vice President of Lahore Chamber of Commerce Rehman Aziz Chan and Vice President Haris Atiq, FTO Advisor Almas Ali Jonda and Dr. Sarfraz Warraich also spoke on the occasion. The FTO said that income tax for day laborers with an annual income of Rs 600,000 has been abolished. He said more than 100 people who had received irrelevant notices from the FBR had been removed from Level 1 and ordered the FBR to take action against officers who issued such notices.

He said they were introducing simple and quick solutions to register complaints and formulating strategies for speedy resolution of taxpayer issues. He said that due to the efforts of the FTO, the FBR gave the authority to issue an exclusion certificate to the commissioner through the DG Point of C. Referring to the recent ban on the import of products luxury goods, the OTF said it was looking into the difficulties faced by importers. . It plays a very important role in the affairs of Senior Vice President of Lahore Chamber of Commerce, Rehman Aziz Chan as a Coordinating Committee. On this occasion, the Deputy Speaker of the Lahore Chamber, Haris Atiq, said that the confidence of the business community in the FTO office was increasing. He said that attention should be paid to the suggestions made by the Lahore Chamber of Commerce regarding the SME sector. He said steps should be taken to reduce turnover tax. The Vice President further said that it would be a good step for complainants to register their complaints on Zoom from where they live. Sarfraz Ahmed Warraich told participants that the Pakistani business community, especially merchants, are concerned about the FBR Tier One System (POS). They have a number of concerns about the potential misuse of this set. During the 2021-22 financial year, the FBR had set a target to bring 60,000 vendors under this system, of which barely 7,000 vendors could be brought under this system (point of sale). Over 100 complaints across the country have been forwarded to the regional offices of the Federal Tax Ombudsman. The Federal Tax Ombudsman sent his recommendations to the FBR after verifying the position of the Lahore Chamber of Commerce and Anjuman-e-Tajiran Lahore. It was agreed that this system is important for increasing tax collection capacity, but vendor concerns are not unfounded. With the establishment of the POS system, traders will no longer be able to do business in the market. However, traders to whom this system does not apply will have the upper hand. The FTO said implementing the point-of-sale system would not give sellers a level playing field to do business. Therefore, listen to the position of all stakeholders before the RBF budget. And develop a system that provides equal opportunity for all to do business, taking into account their suggestions. Participants said that the FBR has kept 100% of its powers, gives us 10-15% of its powers, and stops thinking of us as thieves. Taxpayers also want to pay taxes, but they suffer from one or the other problem. The tax net can be increased by reducing their hardship. Manzoor Malik highlighted the issues related to tax advance, refund, point of sale and cost of doing business. He called the levying of withholding tax illegal and said that due to this, Rs 323 billion of investors would be stuck in FBR as reimbursement.