Karachi, November 11, 2014 (PPI-OT): President of the Karachi Chamber of Commerce and Industry (KCCI) Iftikhar Ahmed Vohra has asked the Federal Board of Revenue (FBR) to announce amnesty scheme for non-filers of GST returns as the number of non-filers has been increasing due to some very stringent provisions of GST laws and procedures.
In a letter issued to the concerned authority in FBR, Iftikhar Vohra stated that the proposed amnesty scheme should be announced for those non-filers of GST returns who have been filing Income Tax returns of Nil or nominal amounts within a certain bracket.
President KCCI noted that a large number of small traders, retail shops and manufacturing units in cottage industry have not been filing Sales Tax Returns for several years. He said that in case of Karachi particularly, the issue is compounded by frequent shut downs and unstable law and order situation that has forced many small businesses to close down.
He further observed that in many cases the amount of penalty runs into hundreds of thousands and beyond the capacity of registered persons to pay. Therefore such individuals and businesses become non-compliant, while the same registered persons have been filing NIL returns of Income Tax.
He said that besides announcing amnesty scheme for such non-filers of GST returns, they should also be given the option to either de-register from the Sales Tax regime or resume filing the returns without penalties. “They may be required to submit an affidavit that they have not conducted any business in the period that they did not file the Sales Tax Returns”, he added.
Iftikhar Vohra was of the view that the proposed amnesty will provide a large number of tax payers the opportunity to come back within the tax regime and will eliminate the chronic non-filers who do not have the capacity and required competency to comply with the current tax laws and procedures.
For more information, contact:
Director Press/Electronic Media and Public Relations
Karachi Chamber of Commerce and Industry (KCCI)
Aiwan-e-Tijarat Road, Off Shahrah-e-Liaquat,
Email: firstname.lastname@example.org, email@example.com