FBR move opposed
KARACHI: Exporters have taken strong exception to Federal Board of Revenue (FBR) move of seeking tax records under Section 25 of the Sales Tax 1990 Act.
In a statement, M Jawed Bilwani, chief coordinator, Pakistan Hosiery Manufacturers and Exporters Association (PHMA), said that exporters’ audit had already been carried out by the audit officer of Inland Revenue at Regional Tax Office up to June 30, 2011.
Furthermore, audit certificates have been issued to exporters under Section 25 of the Sales Tax 1990 Act in the light of SRO No 1125/(1)/2011 of Dec 31, 2011 for the year ending June 30, 2011 regarding facility of zero-rating on utilities availed by the registered persons.
Therefore, one cannot understand that under what law exporters were being asked to furnish record during the month of May, 2012 for carrying out audit of their accounts whereas accounting or fiscal year ends on June 30, 2012.
Mr Bilwani further said there was already a 25 per cent fall in exports as exporters are facing numerous issues, particularly when they have to face around 24 federal and provincial agencies which normally create hassle and difficulties rather than discharging their duties honestly.