English Press Release 26.06.2020

FAISALABAD: Rana Sikandar Azam President Faisalabad Chamber of Commerce & Industry (FCCI) has demanded that date for filing of sales tax returns for the month of May and assets declarations may be extended in view of corona lockdown.

Addressing the FCCI Standing Committee on Taxation, he told that the last date for the filing of sales tax returns for the month of May 2020 may be extended up to June 30. Similarly, the assets declaration’s date may also be extended from June 30 to 30th September, 2020.

He said that the government has paid no heed to the budget proposals of the business community. Quoting the joint demands of All Pakistan Chamber’s Presidents’ conference, he told that 57 chambers from all over Pakistan had demanded restoration of zero rating regimes for the five major export sectors.

He lamented that the government was in the habit of demanding budget proposals but these were thrown into the waste paper basket.

He told that the government claimed that no new tax has been proposed in the new federal budget but it has enhanced tax collection to the tune of Rs.1400 billion. He said that the target of new tax collection would be recovered from the existing taxpayers.

He said that the business community has been stressing for the last many years to enhance the tax net instead of adding additional burden on the existing tax payers.

He said that the government must focus on enhancing the tax net instead of providing a backdoor to the non-filers to evade taxes. He said that every income generating person must have a National Tax Number (NTN). Similarly, the commercial electricity meter holders should also be directed to file tax returns or their connections should be detached.

Engineer Rizwan Ashraf, former President FCCI said that the government should fix realistic figures of tax collection. He told that the businesses remained suspended for the last 3 months and there is no chance for the restoration of the export sector during the next many months.

He demanded that the government should write off taxes for this lockdown period. He criticized the government for clamping a ban on the export of non-woven face masks. He said that Pakistani exporters have a large number of export orders but the government has banned this item through which we could earn millions of dollars.

He further said that prices of electricity, gas and petroleum products have recorded historic decreases but its benefits have not been passed on to the industrial sector and hence our exporters are facing difficulties in getting fresh export orders because of their uncompetitiveness.

He further said that due to the government policies, the small businesses have suffered badly and the government must facilitate them in order to revive the national economy.

Mr. Rehan Naseem Bharara Chairman Faisalabad Garments City also expressed concern over adding additional burden on the existing tax payers and urged that the government should expand the tax net as per its policy.

The meeting was also attended by Mr. Saqib Majeed Senior Vice President (SVP)

FCCI, Mr. Bilal Waheed Sheikh Vice President, Rana Ikramullah,Habibur Rehman Gill, Muhammad Azeem Malik, Zohaib Ahmed, Farooq Ahmed,  Qasim Rasheed, Mr. Saqib Rasheed and Taimur Shaukat.

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