Latest news with #STGO
Business Recorder
5 days ago
- Business
- Business Recorder
Gohar Ejaz hails Field Marshal for ‘safeguarding business community'
ISLAMABAD: Economic Policy & Business Development (EPBD) Chairman Gohar Ejaz gave full credit to Field Marshal Asim Munir for 'safeguarding the respect and honour of the business community' from the extended powers granted to the Federal Board of Revenue (FBR) in the Finance Act 2025. The FBR issued a detailed procedure of investigation before any arrest of businessmen under sales tax general order (STGO) number 2 of 2025 on Wednesday. Ejaz termed the government's decision of making it mandatory for tax officials to consult at least two representatives of the business community before initiating investigations that could lead to arrests in tax fraud cases as a victory for taxpayers of the country. 'As announced in the meeting on July 21, 2025 with business leaders, Field Marshal Asim Munir has safeguarded the respect and honour of the business community from the draconian powers granted to the FBR in the Finance Act 2025, following a presentation by the leadership of FPCCI — Dr Gohar Ejaz, SM Tanveer, the President of FPCCI, and the presidents of 18 chambers, including Karachi, Lahore, Quetta, Sarhad, Faisalabad, Islamabad, Rawalpindi, Rahim Yar Khan, and Sialkot.' According to the STGO, the board has directed that the following procedure shall be followed before initiating investigation leading to action under sub-section (8) and (9) of section 37A of the Sales Tax Act, 1990. (a) Inquiry shall not be initiated unless approval from the Commissioner has been obtained. (b) After conclusion of inquiry, the Commissioner shall not give approval to initiate investigation unless he has obtained approval from the Member (Inland Revenue Operations) of the Board. Before seeking approval of the Member (Inland Revenue Operations), it is binding upon the Commissioner to make consultation with two representatives of the business community from amongst such representatives as notified by the Board. (c) Board shall notify a list of representatives of business community on FBR's web portal.
Business Recorder
5 days ago
- Business
- Business Recorder
STGO issuance welcomed: Businessmen laud curbs on FBR arrest powers
ISLAMABAD: Business community lauded government's move to restrict Federal Board of Revenue (FBR) arrest powers and welcomed the issuance of the Sales Tax General Order (STGO), which outlines a detailed procedure for investigation prior to the arrest of any businessman. The FBR has issued a detailed procedure of investigation before any arrest of businessmen under sales tax general order (STGO) number 2 of 2025 on Wednesday. Economic Policy & Business Development (EPBD) Chairman Gohar Ejaz gave full credit to Field Marshal Asim Munir for safeguarding the respect and honour of the business community from the draconian powers granted to the Federal Board of Revenue (FBR) in the Finance Act 2025. Ejaz termed the government's decision of making it mandatory for tax officials to consult at least two representatives of the business community before initiating investigations that could lead to arrests in tax fraud cases as a victory for taxpayers of the country. 'As announced in the meeting on July 21, 2025 with business leaders, Field Marshal Asim Munir has safeguarded the respect and honour of the business community from the draconian powers granted to the FBR in the Finance Act 2025, following a presentation by the leadership of FPCCI — Dr. Gohar Ejaz, SM Tanveer, the President of FPCCI, and the presidents of 18 chambers, including Karachi, Lahore, Quetta, Sarhad, Faisalabad, Islamabad, Rawalpindi, Rahim Yar Khan, and Sialkot, Ejaz added. According to the STGO, the Board has directed that the following procedure shall be followed before initiating investigation leading to action under sub-section (8) and (9) of section 37A of the Sales Tax Act, 1990. (a) Inquiry shall not be initiated unless approval from the Commissioner has been obtained. (b) After conclusion of inquiry, the Commissioner shall not give approval to initiate investigation unless he has obtained approval from the Member (Inland Revenue Operations) of the Board. Before seeking approval of the Member (Inland Revenue Operations), it is binding upon the Commissioner to make consultation with two representatives of the business community from amongst such representatives as notified by the Board. (c) Board shall notify a list of representatives of business community on FBR's web portal. Copyright Business Recorder, 2025
Business Recorder
6 days ago
- Business
- Business Recorder
Probe before any arrest: FBR wing legally bound to consult business reps
ISLAMABAD: Fulfilling a major demand of the business community, the Federal Board of Revenue (FBR) Member (Inland Revenue Operations) would be legally bound to consult representatives of the business community before ordering any investigation to arrest a businessman on charges of tax fraud. Without this consultation process with the business community, no investigation against the businessman would be approved by the FBR Member (Inland Revenue Operations). The FBR has issued a detailed procedure of investigation before any arrest of businessmen under sales tax general order (STGO) number 2 of 2025 on Wednesday. Arrest in ST fraud cases: FBR IR officers empowered to exercise civil court powers Representatives of the business community responded that the notification of the pre-arrest committee regarding section 37A of the Sales Tax Act, 1990 as per agreement, having two representatives of business committee from the concerned zone has been issued by the FBR. This will be a safeguard that no undue pressure/action is taken against the business community of Pakistan because of presence of our two members in the committee, they added. According to the STGO, the Board has directed that the following procedure shall be followed before initiating investigation leading to action under sub-section (8) and (9) of section 37A of the Sales Tax Act, 1990. (a) Inquiry shall not be initiated unless approval from the Commissioner has been obtained. (b) After conclusion of inquiry, the Commissioner shall not give approval to initiate investigation unless he has obtained approval from the Member (Inland Revenue Operations) of the Board. Before seeking approval of the Member (Inland Revenue Operations), it is binding upon the Commissioner to make consultation with two representatives of the business community from amongst such representatives as notified by the Board. (c) Board shall notify a list of representatives of business community on FBR's web portal. € Trade organizations mentioned shall nominate two persons each, (who should be compliant and reasonably significant taxpayers) and send their names to the Member Inland Revenue Operations, FBR Head Quarters. The trade organizations mentioned in the STGO shall nominate two persons each, (who should be compliant and reasonably significant taxpayers) and send their names to the Member Inland Revenue Operations, FBR Head Quarters. The Member Inland Revenue Operations shall nominate 02 persons For each region for consultation from amongst persons nominated by The Trade Organizations based on the income tax payments made bythem for the latest tax year, exports and compliance history. The Member Inland Revenue Operations shall not select more than One person from a nominating trade organization in one region, FBR added. Copyright Business Recorder, 2025
