LCCI welcomes appointment of Salman Siddique as Chairman FBR

[Lahore_Real_Estate]

LAHORE: The Lahore Chamber of Commerce and Industry while, welcoming the appointment of Salman Siddique as Chairman Federal Board of Revenue (FBR) has urged him to convene a meeting of all the chambers and the other trade bodies as there exists a lot of confusion in the business circles about the proposed Reformed General Sales Tax.

According to press release issued here on Tuesday, the LCCI President Shahzad Ali Malik, Senior Vice President Sheikh Mohammad Arshad and Vice President Sohail Azhar said that Salman Siddique was a seasoned bureaucrat and enjoyed excellent relations with the business community. They hoped that Mr Salman Siddique’s appointment would definitely help simplify complex and complicated taxation procedures that had been creating troubles for the businessmen for the last many years.

The LCCI office-bearers invited the attention of the newly appointed Chairman towards the long-standing LCCI demands regarding broadening of tax net, implementation of self-assessment in true letter and spirit and elimination of corruption in the Federal Board of Revenue.

Elaborating his points, the LCCI office-bearers said that the Lahore Chamber of Commerce and Industry had for the last many years been calling for broadening of tax net instead of squeezing the existing tax payers. They said that there was a dire need for implementation of self assessment in letter and spirit as the very idea had been tarnished due to repeated changes at the top level in the Federal Board of Revenue and it was being misused by the officers concerned.

They also urged the newly appointed FBR Chief to look into the corruption that had played havoc with the whole institution that has all the abilities and the capabilities to turn the economy around.