{"id":100002,"date":"2024-10-17T11:30:17","date_gmt":"2024-10-17T06:30:17","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=100002"},"modified":"2024-10-17T11:30:20","modified_gmt":"2024-10-17T06:30:20","slug":"kcci-seeks-fbr-relief-on-sales-tax-affidavits","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/kcci-seeks-fbr-relief-on-sales-tax-affidavits.html","title":{"rendered":"KCCI seeks FBR relief on Sales Tax Affidavits, cites audit complications"},"content":{"rendered":"\n<p>Karachi: President of the Karachi Chamber of Commerce &amp; Industry (KCCI), Muhammad Jawed Bilwani, has urged the Federal Board of Revenue (FBR) to reconsider the mandatory submission of affidavits for sales tax returns. The news was reported by a source on October 17.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-extends-deadline-to-file-income-tax-returns-2.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR extends deadline to file income tax returns 2024-23<\/a><\/p>\n\n\n\n<p>He emphasised that while the affidavit requires taxpayers to declare that all provided information is accurate, the reality is that taxpayers may unknowingly be penalized for errors or misconduct committed by their vendors.<\/p>\n\n\n\n<p>Bilwani noted that FBR officials had previously advised businesses to verify vendors&#8217; status on the FBR website before making purchases, a practice that was widely followed. However, the new affidavit requirement has raised concerns that taxpayers may now be held responsible for vendors&#8217; tax evasion, placing an unfair burden on businesses.<\/p>\n\n\n\n<p>He also voiced concerns over FBR&#8217;s transformation plan, which suggests an increase in audits. This, he argued, contradicts the Finance Minister\u2019s budget speech, where it was assured that greater use of IT and AI-enabled systems would reduce human interaction and automate the audit process.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-file-income-tax-returns-expire-today.html\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.zameen.com\/news\/fbr-collects-pkr-647-pos.html\">FBR directs PKR 309 mn from POS fees to employee welfare<\/a><\/p>\n\n\n\n<p>While Bilwani acknowledged that parts of FBR\u2019s transformation plan hold promise, he pointed out that several issues and gaps remain. He called for urgent consultations with the business community and stakeholders to address these challenges and ensure the plan&#8217;s effectiveness.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: President of the Karachi Chamber of Commerce &amp; Industry (KCCI), Muhammad Jawed Bilwani, has urged the Federal Board of Revenue (FBR) to reconsider the mandatory submission of affidavits for sales tax returns. The news was reported by a source on October 17. Read: FBR extends deadline to file income tax returns 2024-23 He emphasised that while the affidavit requires taxpayers to declare that all provided information is accurate, the reality is that taxpayers may unknowingly be penalized for errors or misconduct committed by their vendors. Bilwani noted that FBR officials had previously advised businesses to verify vendors&#8217; status on the FBR website before making purchases, a practice that was widely followed. However, the new affidavit requirement has raised concerns that taxpayers may now be held responsible for vendors&#8217; tax evasion, placing an unfair burden on businesses. He also voiced concerns over FBR&#8217;s transformation plan, which suggests an increase in audits. This, he argued, contradicts the Finance Minister\u2019s budget speech, where it was assured that greater use of IT and AI-enabled systems would reduce human interaction and automate the audit process. Read: FBR directs PKR 309 mn from POS fees to employee welfare While Bilwani acknowledged that parts of FBR\u2019s&hellip;<\/p>\n","protected":false},"author":89,"featured_media":99068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[3362,59822,59821,56222,22676,59823,54568],"persona":[],"class_list":{"0":"post-100002","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-fbr","9":"tag-fbr-plan","10":"tag-fbr-website","11":"tag-news-and-updates","12":"tag-sales-tax-returns","13":"tag-tax-news-and-update","14":"tag-zameen-news","15":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>KCCI seeks FBR relief on Sales Tax Affidavits- Zameen News<\/title>\n<meta name=\"description\" content=\"KCCI President urges FBR to lift affidavit requirement for sales tax, citing vendor accountability and audit concerns.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/kcci-seeks-fbr-relief-on-sales-tax-affidavits.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KCCI seeks FBR relief on Sales Tax Affidavits- Zameen News\" \/>\n<meta property=\"og:description\" content=\"KCCI President urges FBR to lift affidavit requirement for sales tax, citing vendor accountability and audit concerns.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/kcci-seeks-fbr-relief-on-sales-tax-affidavits.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-17T06:30:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-17T06:30:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2024\/09\/FBR_news-cover.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sabahat Abid\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sabahat Abid\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"KCCI seeks FBR relief on Sales Tax Affidavits- Zameen News","description":"KCCI President urges FBR to lift affidavit requirement for sales tax, citing vendor accountability and audit concerns.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/kcci-seeks-fbr-relief-on-sales-tax-affidavits.html","og_locale":"en_US","og_type":"article","og_title":"KCCI seeks FBR relief on Sales Tax Affidavits- Zameen News","og_description":"KCCI President urges FBR to lift affidavit requirement for sales tax, citing vendor accountability and audit concerns.","og_url":"https:\/\/www.zameen.com\/news\/kcci-seeks-fbr-relief-on-sales-tax-affidavits.html","og_site_name":"Pakistan Real Estate News &amp; 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