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pAkIStAN’S FIrSt INDeptH NewSpAper oN cUStoMS
Abc certified vol 4 Issue No. 16
karachi, tue Mar 08 - Mon Mar 14, 2016
weekly
regd. No, Mc-1381
Price Rs. 50.00
reSolvINg ISSUeS
FBR Chairman Nisar Khan persuades transporters to postpone strike. | See pAge 02 | reStrAININg MIScreANtS
ISLAMABAD
MUHAMAD FAIZAN www.customstoday.com
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Collector Majid Yousfani’s Appraisement-East busts biggest scam, lodges 31 FIRs . | See pAge 09 | proMotINg INtegrIty
eneficiaries of the Voluntary Tax Compliance Scheme will enjoy t he exemptions whereas t hose who c hoose not to take benefits of the scheme wil l have to f ace regrets, a s t h e Fe d e r a l B o a r d o f R e ve n u e ( FBR ) ha s improved and st re ngt he n e d i t s s y s te m t o t r a c e n o n - t a x payers. Unveil ing the fut ure plans in an inter view wit h Customs Today, F BR Strategic Planning and Reforms, and Information Technology Member Dr Muhammad Iqbal said that doc tors, engineers, lawyers and industrialist were not included in the scheme, as it is only for a specif ic communit y of traders. He fu r ther elaborated that t ra der s, who le s eller s a nd dea ler s who purchase and sell items but not p r o d u c e t h e m a r e in c l u d e d i n t h e scheme. D r Iqbal also rubbished t he point of view regarding any discrimination against the existing taxpayers, saying that the tax amnest y scheme did not mean to discourage the existing t ax-
payers. He said that a different app ro a c h w a s a d o p t ed f o r n ew t ax payers when they paid t heir taxes or f il e d r e tur n s . N e w ta x pa y e r s w il l n o t d e c l a r e their tu rnover in t he fir st year but show working capital, as they will pay one percent of t he working capit al as tax, he said, adding t hat existing t axpayers were paying t ax on tu rnover. From nex t f iscal year, the new t axpayers will pay tax on t he same lines. He c alled upon the t raders who are paying t axes to understand the scheme in dept h by contac ting the FBR offic ials, as they are misperceivi n g t h e s c h e m e as d i s c r i m i n at i o n against t hem. He fur ther said that deadline that had been extended for f iling the t ax re t u r n s u n d e r t h e t a x am n e s t y scheme is for all. He added t hat it would not be a good omen that separate dates were announced for f iling of tax returns. It is u p to t he government to extend the date fur ther, he said, adding t h a t i n “m y o p i n i o n , t h e r e w a s n o need to fur t her ex tend it ”. H i g h l i g ht i n g t he b e ne f i t s, t h e
member said that tax retu rn fil ing under t he scheme was ver y simple, as it cou ld be completed wit hin no time. While filing the tax returns onlin e, f ile r s hav e t o f a c e p ro bl e m s somet ime s but in thi s sc heme tax form was easy enou gh that t axpay e rs c o u l d f i l l i t a n d s u b m i t i t b y themselves. Now ball is in the cour t of traders, as the FBR has accepted all demand s o f th e tr a de r s . While respondi ng to a qu est ion regarding tax collections, he said that t he F B R wa s ma ki ng e f f o r t s t o achieve the targ et of t he c urrent fiscal year. H e s a id t h a t t h e F B R c h a i r m a n wa s c lose ly m onitor ing t he ent ire process, besides detec ting the l oop holes in the tax system.
DetectINg FrAUDS
Director Gul Rehman’s PCA detects tax evasion of Rs 340 million in February. | See pAge 04 |
Dr Iqbal rubbishes point of view regarding discrimination against existing taxpayers, saying that tax amnesty scheme did not mean to discourage existing taxpayers. He said that a different approach was adopted for new taxpayers when they paid their taxes or filed returns
— Exclusive Customs Today photo
Collector Ahmad Reza advises staff to perform duties honestly. | See pAge 03 |