F.P. Report
PESHAWAR: Business community here on Thursday voiced concern over undue delay in payment of outstanding income tax refund and demanded of the Federal Board of Revenue to expedite the process to immediate payout refund to taxpayers as per commitment of Prime Minister Imran.
In a statement issued here, President of Sarhad Chamber of Commerce and Industry (SCCI), Engineer Maqsood Anwar Pervaiz said that the trade and activities had been adversely affected by coronavirus outbreak. On the other hand, he added the undue delay in payment of outstanding refund would create liquidity issues for business community that would further affect businesses, resultantly it will trigger massive unemployment.
Despite the announcement PM economic relief package worth Rs100billion, SCCI chief said the payment of income tax refunds is still a biggest issue, what he called that the Federal Board of Revenue (FBR) a major hurdle in this regard.
He informed, according to Regional Tax Office Peshawar, they have processed the income tax refund claims and have submitted it to FBR HQs in Islamabad, however, he said that no taxpayer has received any refund so far in their bank accounts.
The chamber president said the business community is cash starved due to prolonged and continuous lockdown bringing business activity to a screeching halt. Thus, he added the delayed refund payment is adding to the woes of business community amid prevailing lockdown and crisis owing to Covid-19.
Maqsood Anwar said the unnecessary delay in payment of refunds income tax by FBR is incomprehensible following commitments made by federal government to resolve the liquidity issues being faced by business community amid the current challenging situation created by COVID-19 pandemic.
SCCI chief urged the Prime Minister Imran Khan and federal ministers to immediate orders to relevant ministries, including FBR to ensure immediate payment of all outstanding refunds to robust the business community, to give boost to economic and trade activities and generate new job opportunities because the coronavirus hit businesses are no more in position for further damage and crisis under the prevailing circumstances.
