LCCI decries misuse of discretionary powers under sections 38-B and 40-B - Press Release issued by Lahore Chamber of Commerce and Industry.

Lahore -- January 03, 2019 (PPI-OT)

Following is the text of press release issued by Lahore Chamber of Commerce and Industry (LCCI)

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Sections 38-B and 40-B of Sales Tax Act, 1990 are being harmfully misused by the officials of tax department therefore these should be withdrawn to ensure business friendly atmosphere in the country. These views were expressed by the LCCI Vice President Faheem-ur-Rehman Saigal while addressing a meeting of Commercial Importers, Departmental and Brand Stores here at the Lahore Chamber of Commerce and Industry. LCCI Acting President Khawaja Shahzad Nasir, former Senior Vice President Irfan Iqbal Sheikh, Muhammad Aqif, Raja Javed Riaz, Syed Anwar ul Haq, Jalal Khan, Javed Iqbal Siddiqui and others also spoke on the occasion.

The participants were of the view that misuse of powers by the tax officials is highly unacceptable as it is nothing else but to harass the business community. They said that raids at business premises and markets and harassment measures by the staff of Federal Board of Revenue (FBR) are not only adding to the miseries of the business community but are also promoting trust deficit between the government and the business community therefore Prime Minister Imran Khan and Federal Finance Minister Asad Umer should take notice of the situation.

The LCCI Vice President Faheem-ur-Rehman Saigal said that section 38-B and 40-B are grinding the business community and if these powers are not withdrawn, bureaucracy would cause huge damage, not only...