FPCCI & OTHER TRADE BUSINESS GROUPS ARE ACTUALLY “QABZA GROUPS” – MURTAZA MUGHAL

Islamabad; Country Director United Insurance & President Pakistan Economy Watch, Mr. Murtaza Mughal has “declared” Federation of Pakistan Chambers of Commerce as QABZA GROUP in his latest statement issued on 20 June 2021. 

He said that business associations including FPCCI are only interested in getting relaxations to increase their profit without realizing that the country is in a dire need of sustainable growth for which revenue is necessary.

FPCCI’s response to the sweeping statement is awaited. 

He  supported the decision of  introducing changes in the Income Tax Ordinance to demoralize tax evaders and boost revenue and asked the government to ignore protest by the business community.

The move is good but Section 203 (A) must be amended so that it becomes balanced and bar tax officials from harassing taxpayers unnecessarily.

We fully support the decision of the government regarding installation of a point-of-sale (POS) system and measures such as a fine of one million rupees and sealing of the shop which should not be withdrawn.

He said that the business community is worried about possible harassment by the tax officials in the wake of new powers granted to them therefore safeguards should be provided.

Murtaza Mughal said that the tax officer should only arrest a taxpayer after undeniable proof of tax evasion which can be proved in the court of law.

Tax officer should be punished and losses of the businessman must be compensated for losses if the charges against him could not be proved in the court, he demanded.

The majority of the trade bodies are qabza groups who will never pay tax honestly or try to discharge their national obligations, he observed.

He said that the people protesting the amendment in the Income Tax Ordinance need not to worry if they are honest taxpayers which is seldom the case.