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TMCNet:  Chairman Federal Board of Revenue has agreed that tax deposited by tax payers of Lasbela would be accounted for in revenue generation of Balochistan: Ismail Suttar - Press Release issued by Lasbela Chamber of Commerce and Industry

[February 24, 2014]

Chairman Federal Board of Revenue has agreed that tax deposited by tax payers of Lasbela would be accounted for in revenue generation of Balochistan: Ismail Suttar - Press Release issued by Lasbela Chamber of Commerce and Industry

(Pakistan Business News Via Acquire Media NewsEdge) February 21, 2014 (PPI-OT) Following is the text of press release issued by Lasbela Chamber of Commerce and Industry Quote Mr. Ismail Suttar, President of Lasbela Chamber of Commerce and Industry (LCCI) in a Press Release issued today, has informed that during the meeting of LCCI delegation with Mr. Tariq Bajwa, Chairman FBR today at Islamabad, the Chairman FBR agreed that the inland revenue collected from tax payers having their business premises at Lasbela District would be accounted for in the revenue generated in Balochistan, irrespective of its collection anywhere in the country and being reported by any methodology by the authorized banks. This was stated by him during the discussion with LCCI delegation on the issue of reporting the collection of inland taxes generated in Balochistan.

The Chairman, FBR also agreed to provide total figures of the inland taxes generated from Hub and other parts of Lasbela District, so that the Government of Balochistan may assess the potential of tax generation in the area enabling them to provide further infra-structure and incentives for industrial progress in the Province. Member, FBR Inland Revenue (Operations) has been given the responsibility of providing the data of the revenue collection from Balochistan.

During the meeting Mr. Iqbal Ismail, Chairman, LCCI Taxation sub-committee raised the issue of inordinate delay in the issuance of sales tax refund cheques even after the issuance of RPOs. The Chairman FBR Mr. Tariq Bajwa agreed that the issuance of refund cheques are being delayed but he will try of reduce the time of issuance of such cheque to reasonable limit.

On the request of the Mr. Ismail Suttar, President LCCI, Mr. Tariq Bajwa agreed in principle to establish the Customs Dry Port at Hub, which will certainly provide an incentive to the investors and the industries currently operating at Hub and other parts of Balochistan and would contribute to the economic progress of Balochistan and its people. The Member (Customs) FBR Mr. Muhammad Nisar is looking into this matter in order to ensure the early establishment of Dry Port at Hub.

During the meeting the LCCI President thanked the Chairman FBR for giving a patient hearing to the LCCI delegation including Mr. Iqbal Ismail, Chairman LCCI Taxation sub-committee and appreciated the professional approach and leadership skills of Mr.,. Tariq Bajwa and the efforts of his team at FBR at Islamabad as well at Hub and Quetta, to steer the country out of the current economic crises, in line with policy of the present government. The LCCI President also lauded the sentiments of the Chairman FBR for the uplift of Balochistan as the most important task for him.

For more information, Contact:Muhammad FarhanPublic Relations OfficerLasbela Chamber of Commerce and IndustryGround floor, lieda office building, Hub, Dist. Lasbela,Tel: (0853) 303410, 304461Fax: (0853) 302431E-Mail: Unquote

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