Govt clearing tax refunds of business community: Hafeez Shaikh

Govt clearing tax refunds of business community: Hafeez Shaikh

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Islamabad: Dr. Abdul Hafez Sheikh, the Prime Minister ’s Advisor on Finance and Revenue, said the government is actively addressing the liquidity-related issues of the business community, by quickly liquidating all outstanding tax refunds.

Speaking with office staff and members of the Pakistan Federation of Industry and Commerce (FPCCI), he said that the government has taken further measures to further simplify business and improve the business environment, especially for SMEs.

FPCCI members conducted detailed video interactions with consultants and their teams in the finance department, and informed them of their problems, and made various proposals and suggestions for the upcoming federal budget review.

Ms. Nausheen Javaid Amjad, Chairman of the Federal Taxation Office (FBR), Naveed Kamran Baloch, Minister of Finance, Mian Anjum Nisar, Chairman of the FPCCI, Zakaria Usman, former Federal President, and several other office staff and FPCCI members also participated Discussion.

Dr Abdul Hafeez Shaikh said that the government has refunded Rs 56 crore sales tax to exporters through the Faster system, while Faster also issued Rs 40 crore and another Rs 3 crore By the end of the month.

He said that the government is willing to consider any real and realistic proposals, including the establishment of industrial zones, upgrading of infrastructure, rationalization of tariffs and tariffs, in order to promote the development of small and medium enterprises in the country.

Earlier, the head of the FPCCI office had informed the consultant that their recent meeting with the FBR chairman and his team on problem resolution had made progress.

They hope to waive the demurrage fees due to detained containers, and to clear vehicles detained in ports to obtain renewal certificates due to the prevalence of COVID-19, and reduce the import tax on tires.

They thanked the consultant and his team for expediting the liquidation of the outstanding tax refund, and admitted that this was the first time in history that they had received the outstanding tax refund effortlessly at their doorstep.

They also shared a number of suggestions and recommendations to promote and inspire businesses and facilitate the convenience of doing business in the country.

The consultant assures business leaders that the government will solve all real problems and implement practical proposals and recommendations to promote business activities in the country.

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