Chairman Federal Board of Revenue (FBR) Shabbar Zaidi has assured business community that no raids would be conducted on registered Tax payers for income tax or sales tax purposes.
The delegation of the Rawalpindi Chamber of Commerce and Industry (RCCI) led by President Saboor Malik who met with him at his office, FBR Chairman also sought help and cooperation from traders in addressing menace of smuggling.
On the occasion, Saboor Malik shared and apprised the FBR Chairman about the concerns of the business community.
The RCCI President said that national economy is passing through difficult times and we required better partnership with the FBR in joint efforts towards revival of the economy.
He said that such raids and closure of business centers propagate negative message in the markets. It also hurt the honor, respect and goodwill of the business center and market as well,he added.
RCCI President said that actions and raids at business center must be stopped on the account of smuggled goods.
FBR Chairman assured traders that powers of penalties would be given to higher authority not below than Member FBR, who would evaluate the authenticity and then give permission if required.
“ Turnover tax will be reduced to small traders and businessmen on case basis and its threshold will be increased.
Hajj Companies payment to Saudi Arabia under section 152 will be evaluated and exempted from withholding tax”, he added.