Karachi: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) recently called on the Federal Board of Revenue (FBR) to withdraw its tax officers’ discretionary powers to enable businesses to flourish under stable laws and policies freed from the impact of arbitrary decisions — a news source reported.
FPCCI office holders argued that the decision will also serve to restore the public’s confidence in taxation laws. The matter was discussed at a webinar on Wednesday, during which FPCCI President Mian Anjum Nisar called for safeguarding the interest of taxpayers against the misuse of discretionary powers.
Nisar further called for updating outdated laws and practices. Speaking of Section 408 of the Sales Tax Act 1990, he proposed that automation of monitoring system could easily replace the physical presence of Inland Revenue Officers on business premises, and still allow for efficient monitoring of the entire production and supply chain.
FPCCI’s Budget Advisory Council Convener Zakaria Usman also took the opportunity to propose that the powers to select the tax return for audits should rest only with the FBR.