Mohmand Chamber opposes unlimited powers for taxmen
PESHAWAR: The President of the Mohmand Chamber of Commerce and Industry, Haji Amir Muhammad Khan Tuesday rejected the government's decision to grant unlimited powers to tax officials, calling it an act of hostility toward the business community and the national economy.
In an official statement, he declared that such measures would only fuel corruption and severely impact the already struggling business sector, particularly in Khyber Pakhtunkhwa. 'Empowering tax officials without checks and balances will open the floodgates of corruption. These tactics aimed at crippling the economy will not be tolerated,' he said.
He likened the authority to withdraw funds from business accounts without due legal process or prior notice to a "reign of bandits," stating that after the outlaws of rural areas, now 'white-collar bandits' are gearing up to loot traders with both hands.
Amir Muhammad Khan emphasized that the business community firmly rejects the Income Tax Amendment Ordinance in its entirety. He warned that any deployment of tax officials in markets and business hubs would be viewed as a direct attempt to sabotage trade and enterprise.
"The unity among traders will compel the government and the FBR to step back from such oppressive actions," he asserted, adding that the imposition of such draconian laws is a clear attempt to push traders to the wall.
He called on the government to immediately withdraw the controversial ordinance and cautioned that if the anti-business and anti-national ordinance is not repealed, the business community will announce its future course of action.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
11 hours ago
- Business Recorder
ST returns filing: PCDMA concerned at FBR's new requirement
KARACHI: The Pakistan Chemical & Dyes Merchants Association (PCDMA) has raised serious concerns about difficulties faced by traders in filing their sales tax returns, following a new requirement introduced by the Federal Board of Revenue (FBR). Through SRO 55(I)/2025, the FBR has made it mandatory for all registered commercial importers, distributors, and wholesalers to declare their stock position in Annexure H1 with every monthly sales tax return. However, PCDMA Chairman Salim Valimuhammad said the lack of clear instructions from the FBR has created unnecessary confusion and hardship. He explained that many traders submitted their March 2025 returns without Annex H1 simply because they didn't understand the process. As a result, they're now unable to declare their opening stock for April, and the delay continues even in June. 'PCDMA has received many complaints from members who are still unable to file their April 2025 returns due to this confusion,' Valimuhammad stated. He added that many traders were forced to go back and forth with the FBR for clarification. Eventually, the FBR allowed revised returns without needing to change Annex A or C or seek commissioner approval—but by then, it was too late for many. To address the issue, PCDMA is urging the FBR to grant traders a 60- to 90-day grace period to submit Annexure H1 after filing their returns. This would be similar to the 120-day window already available to manufacturer-exporters. 'PCDMA believes that such decisions should be made after proper consultation with trade bodies,' Valimuhammad said. He emphasized that timely and clear communication is crucial to ensure compliance and avoid similar problems in the future. PCDMA continues to push for reforms that protect traders' interests and promote smoother tax procedures. The association urges urgent action before more disruptions affect business operations, confidence, and overall revenue collection in the coming months. Copyright Business Recorder, 2025
Business Recorder
12 hours ago
- Business Recorder
Senate body approves ‘Civil Servants (Amendment) Bill, 2024'
ISLAMABAD: The Senate Standing Committee on Cabinet Secretariat approved, 'The Civil Servants (Amendment) Bill, 2024' which makes mandatory for Grade-17 and above officers to declare their assets. The committee met with Senator Rana Mahmoodul Hassan in the chair at Parliament Lodges on Thursday. According to the bill, senior civil servants will now be required to disclose not only their own assets but also those of their spouses and dependent children. The declaration must also include foreign assets and liabilities. The asset details will be submitted to the Federal Board of Revenue (FBR), which will be authorised to make them public, while ensuring a balance between public interest and individual privacy. The bill also mandates the protection of personal information, including national identity card numbers, residential addresses, and bank account details. During the meeting, the cabinet officials to the committee that civil servants will be legally bound to disclose their assets once the bill becomes law. Senator Farooq H Naek said, 'this is a good piece of legislation,' Senator Anusha Rehman from Pakistan Muslim League-Nawaz (PML-N) also endorsed the bill, pledging full support. Copyright Business Recorder, 2025
Business Recorder
12 hours ago
- Business Recorder
LTO Karachi posts record Rs2.807trn collection
KARACHI: The Large Taxpayers Office (LTO) Karachi has displayed a robust performance in revenue collection during the period from July 24 to May 25, achieving a record collection of Rs 2.807 trillion with an impressive 11.6 percent growth. According to the details, the department has made Rs 2.807 trillion in revenue collection as compared to Rs 2.515 trillion in the previous year, depicting an impressive 11.6 percent growth. Income tax emerged as the primary driver of revenue growth, contributing Rs 1.510 trillion in FY2024-25, a substantial increase of 28.1 percent from the previous year's Rs 1.179 trillion. This significant jump in tax collection reflects improved compliance and enhanced tax recovery measures. FBR tax collection: Contribution of LTO Karachi highest Similarly, the sales tax collection also showed positive momentum, reaching Rs 1.185 trillion in FY2024-25, representing a 19.2 percent increase from Rs 994.52 billion collected in FY2023-24. The Federal Excise Duty (FED) has recorded the most dramatic growth among all revenue streams, jumping by 58 percent from Rs 121.85 billion in FY2023-24 to Rs 192.49 billion in FY2024-25. The monthly comparison for May shows continued strong performance, with total revenue collection of Rs 248.63 billion in May 2024-25 compared to Rs 199.43 billion in May 2023-24 – an increase of 24.7 percent. Income tax collection for May grew by 22.1 percent, while sales tax increased by 17.6 percent. The federal excise duty collection in May 2024-25 reached Rs 20.83 billion, significantly higher than Rs 11.06 billion in the corresponding period, representing an 88.3 percent growth. Tax refunds decreased marginally from Rs 82.51 billion in FY2023-24 to Rs 81.17 billion in FY2024-25, indicating efficient refund management, while the monthly refunds for the month of May 2025 showed a 13 percent decline to Rs 4.72 billion from Rs 5.37 billion in the previous year. During the period from July 2024 to May 2025, the income tax constituted 53.8 percent of total LTO revenue collection, followed by sales tax at 42.2 percent and federal excise duty at 6.9 percent. Copyright Business Recorder, 2025
