Latest news with #FederalExciseAct2005
Business Recorder
12-05-2025
- Business
- Business Recorder
FBR deputes officers at 21 beverages cos
ISLAMABAD: The Federal Board of Revenue has deputed over 50 Inland Revenue officers at 21 beverage manufacturing companies for monitoring of production and sales of beverages cleared from the factories. In this regard, the FBR has issued instructions to the Chief Commissioner Inland Revenue, Large Taxpayers Office Lahore regarding monitoring of Beverages manufacturing units under section 40B of the Sales Tax Act 1990 and section 45(2) of the Federal Excise Act 2005. Under the said section of the Federal Excise Act, the Board may post officer of Inland Revenue to the premises of registered person to monitor production, removal or sale of goods and the stock position or the maintenance of records. Beverages, cotton bales: FBR decides to install production line counter system The FBR, in exercise of powers conferred under section 40B of the Sales Tax Act 1990 and section 45(2) of Federal Excise Act, 2005, is pleased to post the following officers/officials of Inland Revenue at the business premises of beverage manufacturing units mentioned against their names to monitor production, sales and stock position. A report on the outcome of the exercise may be furnished to the Board after completion of the exercise. The officers/officials are posted till June 2, 2025, the FBR's instructions added. Copyright Business Recorder, 2025
Business Recorder
05-05-2025
- Business
- Business Recorder
LCCI rejects amendments to IT Ordinance 2001, FEA 2005
LAHORE: The Lahore Chamber of Commerce and Industry on Monday out-rightly rejected 'controversial amendments' introduced to the Income Tax Ordinance 2001 and Federal Excise Act 2005, which have already come into force from May 2, 2025 without consultation with the Chambers of Commerce and Industry and stakeholders. While addressing an emergent Press Conference, the LCCI President Mian Abuzar Shad called the amendments dangerous' and anti-business and demanded immediate withdrawal or parliamentary review through proper stakeholder consultation. LCCI Senior Vice President Engineer Khalid Usman, Vice President Shahid Nazir Chaudhry, former LCCI President Mian Anjum Nisar and members of the Executive Committee also spoke on the occasion. LCCI President Mian Abuzar Shad said that these amendments have handed a sword to the Federal Board of Revenue officials. They violate fundamental constitutional rights and undermine the very foundation of due legal process. Business Community rejects any law that empowers tax authorities to bypass judicial procedures and intimidate honest taxpayers.' He criticized Section 138(3A) of the Income Tax Ordinance 2001 which now mandates that a tax liability becomes immediately enforceable if upheld by a High Court or Supreme Court, regardless of any ongoing legal proceedings in other courts or forums. He said that this section strips the business community of its constitutional right to appeal. Enforcing tax collection without completing the legal process is a serious violation of justice. The LCCI President said that another alarming amendment is Section 140(6A), which allows the FBR to freeze bank accounts and recover funds without issuing any prior notice. This creates an atmosphere of uncertainty and fear for businesses. It not only undermines business confidence but also threatens to destabilize the financial system. He added that the new Section 175C authorizes the FBR to deploy officers to monitor production, services, or stock on any business premises. This is an infringement on business autonomy, privacy and freedom. Are Pakistani businessmen criminals that they must be monitored like this?' questioned Mian Abuzar Shad. The LCCI President said that amendments to Sections 26 and 27 of the Federal Excise Act now define the use of fake stamps, barcodes or labels as criminal offenses. 'While we stand firmly against forgery,' LCCI leadership cautioned, 'if this law is misused to harass innocent businessmen, it will lead to grave consequences. He said that FBR has now been empowered to authorize officers from other federal or provincial departments to conduct inspections, searches and seizures. This will open the floodgates to institutional interference, drastically increasing the operational hardships for the business community. The LCCI leadership demanded immediate withdrawal of the amendments or a parliamentary review process ensuring all stakeholders are heard, consultation with the business community to ensure transparency, balance and trust in tax legislation, expansion of the tax net by bringing new entrants into the system instead of harassing existing, compliant taxpayers. LCCI Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry said that if the government continues to ignore the voice of the business community, the Lahore Chamber will unite trader bodies across the country and initiate a constitutional, legal and peaceful protest movement. Former LCCI President Mian Anjum Nisar said that we desire economic stability and national progress, but that requires business-friendly policies — not repressive ones. Policies that destroy investor confidence will hurt Pakistan's economy. The LCCI leadership said that we support taxation, but it must be fair, just and implemented in a manner that encourages, not punishing the business community. Copyright Business Recorder, 2025
Express Tribune
04-05-2025
- Business
- Express Tribune
Businessmen slam tax ordinance
Listen to article Lahore Chamber of Commerce & Industry (LCCI) President Mian Abuzar Shad, has termed the recent amendments made through the Presidential Ordinance to the Income Tax Ordinance 2001 and the Federal Excise Act 2005 as dangerous for the business community. He stated that the extraordinary powers granted to the Federal Board of Revenue (FBR) through this ordinance threaten private business autonomy, civil liberties, and the stability of the economy. Shad called for an emergency meeting of all Chambers of Commerce and Trade Associations across the country, to be held at the Lahore Chamber on Monday. He expressed grave concern over the newly added Section 3A in the Income Tax Ordinance, which allows immediate tax recovery based on a High Court or Supreme Court decision, bypassing the due legal process. Similarly, Clause 6A added to Section 140 empowers the FBR to freeze a taxpayer's bank account and withdraw funds without any prior notice or legal proceedings, which he declared unacceptable. According to the LCCI President, the newly inserted Section 175C authorises the FBR to appoint its officer in any business premises to monitor production, services, and stockan act considered as a direct breach of business confidentiality and a blatant intrusion into private enterprise. Furthermore, amendments to the Federal Excise Act have criminalised the use of fake stamps, barcodes, or labels, tightening the grip on businesses. Granting powers of checking and confiscation to other departments could undermine the constitutional jurisdiction of central authorities.
Business Recorder
04-05-2025
- Business
- Business Recorder
LCCI chief criticizes amendments to Income Tax Ord, Federal Excise Act
LAHORE: President of the Lahore Chamber of Commerce & Industry (LCCI), Mian Abuzar Shad, has termed the recent amendments made through Presidential Ordinance to the Income Tax Ordinance 2001 and the Federal Excise Act 2005 as dangerous for the business community. He stated that the extraordinary powers granted to the Federal Board of Revenue (FBR) through this ordinance threaten private business autonomy, civil liberties, and the stability of the economy. Responding immediately, Mian Abuzar Shad has called for an emergency meeting of all Chambers of Commerce and Trade Associations across the country, to be held at the Lahore Chamber on Monday at 11:00 AM, in order to formulate a united course of action on the issue. He expressed grave concern over the newly added Section 3A in the Income Tax Ordinance, which allows immediate tax recovery based on a High Court or Supreme Court decision, bypassing the due legal process. Similarly, Clause 6A added to Section 140 empowers the FBR to freeze a taxpayer's bank account and withdraw funds without any prior notice or legal proceedings, which he declared unacceptable. According to the LCCI President, the newly inserted Section 175C authorizes the FBR to appoint its officer in any business premises to monitor production, services, and stock—an act considered a direct breach of business confidentiality and a blatant intrusion into private enterprise. Furthermore, amendments to the Federal Excise Act have criminalized the use of fake stamps, barcodes, or labels, tightening the grip on businesses. Granting powers of checking and confiscation to other departments could undermine the constitutional jurisdiction of central authorities. Mian Abuzar Shad emphasized that enforcing such an ordinance under Article 89 of the Constitution without parliamentary approval goes against democratic norms. He urged the government to immediately review the ordinance and move forward with legislation only after taking all stakeholders into confidence. Copyright Business Recorder, 2025
