FPCCI opposes Tax Laws (Amendment) Ordinance
The FPCCI has vowed to support legal challenge against this ordinance in court.
During a press conference held at Federation House, Senior Vice President Saqib Fayyaz Magoon expressed serious concerns over the new tax amendment 2025, warning it would open new doors for corruption and intimidate investors. 'On one hand, the government is implementing a faceless system in customs. On the other hand, it's stationing FBR officials in factories and manufacturing units through Inland Revenue,' Magoon said.
He questioned whether these FBR officers had been given 'certificates of honesty,' arguing their deployment would lead to increased corruption and harassment.
Magoon criticised the 'extraordinary powers' granted to FBR representatives, including the removal of taxpayers' right to appeal. 'It's like skipping the FIR process and going straight to hanging,' he remarked.
He further explained that the new laws allow FBR officials to be stationed in industries for monitoring purposes and authorise tax officers to recover funds directly from bank accounts under Section 140, eliminating the previous notice period given to banks.
The FPCCI leadership also warned that ending captive power would destroy billions of dollars in industrial investment.
He highlighted the contradictory approaches of FBR and the Special Investment Facilitation Council (SIFC) policies, claiming FBR harasses investors and SIFC strives to attract foreign investment. 'With such flawed policies, the Prime Minister's target of $100 billion in exports will not be achieved.'
Vice President FPCCI Muhammad Aman Paracha pointed to what he called a 'trust deficit' between the government and business community, saying, 'Due to this lack of trust, tax targets will never be met.' He emphasised the need for a long-term policy framework spanning 10-15 years.
Another Vice President, Nasir Khan claimed 'enemies are not just at the borders but sitting inside as policymakers.' He appealed to the Army Chief to provide protection for investors' capital.
Dr Mirza Ikhtiar Baig, a Pakistan People's Party member of the National Assembly, claimed the government is planning to introduce legislation to end captive power. However, he assured that his party would oppose any such bill. He informed about an important upcoming meeting at Sindh Chief Minister's House with all stakeholders to address these concerns on Sunday (today).
Senior business leader Bashir Jan Mohammad suggested that FPCCI should immediately meet with the Prime Minister to discuss these pressing issues.
Copyright Business Recorder, 2025
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