KARACHI: As the local auto assemblers and real estate sector cheer the government’s decision of allowing non-filers to buy cars and property – the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has lamented the move.

In a meeting, held simultaneously at the Federation House Karachi, regional office Lahore and capital office Islamabad through a video link to consider the fiscal measures of the finance supplementary (amendments) Bill 2018, the FPCCI said that allowing non-filers to buy property and vehicles would defeat the prime objective of broadening the tax base and incentivise the filers to become non-filers so that they may not be required to go through the hassle of audit and cumbersome process of filling of income tax returns.

The meeting was chaired by Acting President FPCCI Waheed Ahmad and was largely attended by the members of the business community.

According to a press release, the FPCCI members said the federal government should have taken the federation and other stakeholders on board before announcing the supplementary Finance Bill.

They urged the government to bring the gas rates at par with the regional competitor countries such as Bangladesh and India enabling Pakistan to compete with them in the international market thus bridging the yawning trade deficit.

FPCCI urged the government to announce the roadmap for the release of all outstanding refunds – sales tax, DLTL etc. amounting to over Rs300 billion to exporters within the stipulated time frame.

The federation also demanded the increased tax rate for the salaried class should be withdrawn and be reversed to the previous level as given in the Finance Act 2018, adding that the rise in the tax rate of the salaried class was not justified as this was the only segment of the society who cannot evade the tax, as it was deducted from the source.

Published in Dawn, September 23rd, 2018