{"id":100904,"date":"2024-12-27T11:32:41","date_gmt":"2024-12-27T06:32:41","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=100904"},"modified":"2024-12-27T11:32:44","modified_gmt":"2024-12-27T06:32:44","slug":"icci-urges-fbr-to-engage-business-community","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/icci-urges-fbr-to-engage-business-community.html","title":{"rendered":"FBR urged to engage business community in tax law amendments"},"content":{"rendered":"\n<p>Islamabad: The Islamabad Chamber of Commerce and Industry (ICCI) has called on the Federal Board of Revenue (FBR) to involve the business community in discussions regarding the proposed Tax Laws (Amendment) Bill 2024. Abdul Rehman Siddiqui, Acting President of the ICCI, emphasized the importance of stakeholder engagement to address concerns and foster a tax environment conducive to business growth.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/overseas-pakistanis-get-real-estate-tax-relief.html\" target=\"_blank\" rel=\"noreferrer noopener\">Overseas Pakistanis get real estate tax relief under new FBR initiative<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>In a statement, Siddiqui expressed apprehensions about the proposed amendments, labeling them as overly stringent and likely to discourage businesses. He warned that such measures could deepen the existing trust deficit between taxpayers and the FBR, hindering efforts to create a collaborative tax ecosystem.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>\u201cInstead of burdening existing taxpayers further, the FBR should focus on expanding the tax net to include those currently outside it,\u201d Siddiqui stated. He urged the government to reconsider the proposed changes and ensure meaningful consultations with stakeholders before implementing any new policies.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>ICCI Vice President Nasir Mehmood Chaudhry echoed these sentiments, emphasizing that tax reforms should prioritize fairness and transparency to support business growth. He cautioned that neglecting stakeholder input could result in policies disconnected from the realities of the business environment, stifling economic progress.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/non-filers-face-serious-consequences-fbr.html\" target=\"_blank\" rel=\"noreferrer noopener\">Non-Filers barred from high-value banking transactions, property, share purchases: FBR<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Both leaders highlighted the need for dialogue, transparency, and balanced reforms to strengthen trust between the business community and tax authorities. They reaffirmed the ICCI\u2019s commitment to advocating for reforms that promote economic development while safeguarding the interests of businesses.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>The ICCI\u2019s appeal underscores the critical role of collaboration in ensuring tax policies that are equitable, effective, and aligned with the broader goals of economic growth and development.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Islamabad Chamber of Commerce and Industry (ICCI) has called on the Federal Board of Revenue (FBR) to involve the business community in discussions regarding the proposed Tax Laws (Amendment) Bill 2024. Abdul Rehman Siddiqui, Acting President of the ICCI, emphasized the importance of stakeholder engagement to address concerns and foster a tax environment conducive to business growth. Read: Overseas Pakistanis get real estate tax relief under new FBR initiative In a statement, Siddiqui expressed apprehensions about the proposed amendments, labeling them as overly stringent and likely to discourage businesses. He warned that such measures could deepen the existing trust deficit between taxpayers and the FBR, hindering efforts to create a collaborative tax ecosystem. \u201cInstead of burdening existing taxpayers further, the FBR should focus on expanding the tax net to include those currently outside it,\u201d Siddiqui stated. He urged the government to reconsider the proposed changes and ensure meaningful consultations with stakeholders before implementing any new policies. ICCI Vice President Nasir Mehmood Chaudhry echoed these sentiments, emphasizing that tax reforms should prioritize fairness and transparency to support business growth. He cautioned that neglecting stakeholder input could result in policies disconnected from the realities of the business environment, stifling economic&hellip;<\/p>\n","protected":false},"author":18,"featured_media":62814,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[61334,61341,41187,61340,61343,7498,60806,61338,3362,61339,6334,61333,61344,61336,61342,61332,61337,1109,61335,7247],"persona":[],"class_list":{"0":"post-100904","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-broadening-tax-net","9":"tag-business-advocacy","10":"tag-business-community","11":"tag-business-friendly-environment","12":"tag-collaborative-approach","13":"tag-economic-growth","14":"tag-economic-progress","15":"tag-fair-tax-policies","16":"tag-fbr","17":"tag-government-policies","18":"tag-icci","19":"tag-islamabad-chamber-of-commerce","20":"tag-stakeholder-consultation","21":"tag-stakeholder-engagement","22":"tag-tax-ecosystem","23":"tag-tax-law-amendments","24":"tag-tax-laws-amendment-bill-2024","25":"tag-tax-reforms","26":"tag-taxpayer-trust","27":"tag-transparency","28":"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>ICCI urges FBR to engage business community - Zameen News<\/title>\n<meta name=\"description\" content=\"Instead of burdening existing taxpayers further, the FBR should focus on expanding the tax net to include those currently outside...\" \/>\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\/icci-urges-fbr-to-engage-business-community.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ICCI urges FBR to engage business community - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Instead of burdening existing taxpayers further, the FBR should focus on expanding the tax net to include those currently outside...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/icci-urges-fbr-to-engage-business-community.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=\"2024-12-27T06:32:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-27T06:32:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/03\/ICCI.png\" \/>\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\/png\" \/>\n<meta name=\"author\" content=\"Samra Zulfiqar\" \/>\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=\"Samra Zulfiqar\" \/>\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":"ICCI urges FBR to engage business community - Zameen News","description":"Instead of burdening existing taxpayers further, the FBR should focus on expanding the tax net to include those currently outside...","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\/icci-urges-fbr-to-engage-business-community.html","og_locale":"en_US","og_type":"article","og_title":"ICCI urges FBR to engage business community - Zameen News","og_description":"Instead of burdening existing taxpayers further, the FBR should focus on expanding the tax net to include those currently outside...","og_url":"https:\/\/www.zameen.com\/news\/icci-urges-fbr-to-engage-business-community.html","og_site_name":"Pakistan Real Estate News &amp; 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