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ISLAMABAD: The trader community has decided to launch a strong protest against the promulgation of the Tax Laws (Third Amendment) Ordinance 2021 on 29th September in Islamabad.
The protest will be held in front of the Federal Board of Revenue (FBR) Headquarters. This was declared by the President of the All Pakistan Anjuman-e-Tajaran, Muhammad Naeem Mir, in a video message to Pakistan’s traders and retailers.
He stated that the trader’s community and retailers reject the harsh provisions of the Tax Laws (Third Amendment) Ordinance, 2021. The documentation measures introduced in the Presidential Ordinance are complicated and result in increased penalties on the traders and retailers.
The protest is against the harsh tax policies and complicated and double documentation that will increase tax evasion and corruption in the country. Mir affirmed that the trader community also rejects the new penalty regime for the retailers under the Point of Sale system and the registration of traders under the Tax Laws (Third Amendment) Ordinance, 2021.
He highlighted that the government has imposed an additional advance tax on the rates ranging from five percent to 35 percent on professionals using domestic electricity connections. It has also enhanced Extra Tax rates on industrial and commercial gas and electricity connections to unregistered persons.
While referring to the ordinance, Mir stated that the government has increased the amount of the penalty for the tier-1 retailers who are not integrated. The FBR has been authorized to discontinue the gas and electricity connections of persons, including tier-1 retailers, who are either not registered, or if registered, not integrated.
Moreover, the government has increased the amount of the penalty for tier-1 retailers who are not integrated with the FBR.
The FBR can issue a notice to anyone for registration with the Point of Sale (POS) system, and non-compliance will result in heavy penalties on the registered persons. The trader community and retailers have rejected all these harsh measures that were introduced via the ordinance.
