Latest FBR Releases
FBR keeps a busy schedule these past weeks in meeting stakeholders, the Finance Minister and pressure groups in preparation of annual fiscal budget. The Chairman FBR Mr. Mumtaz Haider Rizvi visited Karachi today to meet business and commerce entities. The Chairman also met with tax collection authorities to review progress of revenue collection, thus balancing both sides of the Revenue equation: taxpayers and tax collectors.
The Chairman FBR visited the Overseas Investors Chamber of Commerce & Industry (OICCI) to discuss Taxation Proposals for the National Budget 2012-2013. The Chairman acknowledged the efforts of foreign investors in Pakistan towards taxes and assured his full support for early resolution of tax issues. He pointed out that level of proposed investment of US$ 3 billion in next 5 years by the OICCI members is low which he added could have been better. He assured the OICCI that FBR will closely consider their proposals and, analyzing all aspects, will decide on appropriate action on the recommendations of the OICCI.
The Chairman FBR also met a delegation of the Federation of Pakistan Chambers Of Commerce & Industry (FPCCI) in Karachi and discussed their recommendations for the upcoming budget. The Chairman assured the FPCCI delegation of every possible help from FBR on tax matters. He said that the taxation system is being simplified and the FATE Wing of the Board has conducted interaction seminars with the taxpayers all over the country on FBR’s initiatives for taxpayers. The Chairman said that the government’s budget is being designed to ease people’s problems. He also assured them that their reservations about the SRO 119 would be discussed with the stakeholders, to ease taxpayers’ burden.
The Chairman also visited the Large Taxpayers Unit Karachi to observe revenue collection on the frontline and the new Broadening of Tax Base initiative. He iterated that Karachi contributes an important chunk of Federal Revenue therefore LTU and RTOs need to work on war footing to achieve the tax collection target and, as the revenue collection process enters its last phase of the year, tax officers should maintain the momentum till the objective is achieved.