Islamabad: Chinese investors and companies will submit proposals for changes in tax laws to the Federal Board of Revenue (FBR), a news source reported. The proposals will go to FBR through the Chinese Embassy in Pakistan.
The proposals seek improvement and changes in tax laws and procedures. The said amendments are expected to facilitate Chinese investments in different projects in Pakistan.
The Chinese ambassador to Pakistan recently paid a visit to the FBR Headquarters. He, along with his team in the embassy and officials of the large Chinese companies working in Pakistan, met with FBR representatives. The line members of the Inland Revenue and Customs department, along with both their teams, also attended the meeting.
During the session, the Chinese investors presented their taxation concerns pending with the Inland Revenue and Custom offices. The FBR chairman then assured to resolve these as soon as possible.
The meeting concluded with the following decisions:
- The FBR Member Inland Revenue Policy, FBR Member Customs Policy, and Commercial Counsellor Chinese embassy will hold a workshop by the end of April 2019. This workshop will cover federal tax laws and procedures. Representatives of the Chinese companies in Pakistan and officials from the commercial section of Chinese embassy will attend it
- Chinese companies are to inform a focal person from the FBR chairman office if they fail to receive a proper response from FBR field offices within a time period of two weeks. Consequently, the FBR Member Customs Operations and Inland Revenue Operations will take quick action
- Filed offices of FBR and FBR wings are to respond and resolve issues brought to them within a month’s time. The FBR members concerned will make periodic inspections on the matter
- Field formations of FBR will appoint focal persons for Chinese companies. Each chief collectorate of customs and the large taxpayer unit will get one focal person each. The Chinese embassy will receive details of this focal person through the CPEC focal person for this office
Chinese companies will submit their proposals for tax changes through the commercial section of the Chinese embassy. The proposals will then reach the focal person of the FBR chairman office.