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Business

January 13, 2018

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Tax exemption certificates urged

Tax exemption certificates urged

LAHORE: The Progressive Group of the Lahore Chamber of Commerce and Industry (LCCI) has demanded the Federal Board of Revenue (FBR) to expedite the process of issuance of income tax exemption certificates on imports, a statement said on Friday.

LCCI Progressive Group President Khalid Usman and Vice President Muhammad Arshad Chaudhry said that a number of complaints had been received by the group from its members that the revenue department is not issuing certificates, despite the fact that tax had been collected in advance.

Unfortunately, department officials are demanding for more deposit of advance tax for issuance of certificate along with hefty bribes, which is sheer injustice and against the law, they added. Delay in the issuance of income tax exemption certificates is encouraging the menace of smuggling that would destroy the national economy and would also open up the floodgates of corruption. They urged the federal finance minister to take stock of the whole situation and issue directives to the officials concerned to issue exemption certificates.

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