ISLAMABAD, JUL 15 /DNA/ – The Islamabad Chamber of Commerce & Industry (ICCI) has expressed great reservations over the introduction of Sections 203B to 203I in ITO 2001 through Finance Act 2021 that authorizes the arrest of a taxpayer on the pretext of concealment of income and called upon the government to revoke it as it would open new avenues of taxpayers’ harassment and  enhance the prospects of corrupt practices in tax matters.

Sardar Yasir Ilyas Khan, President, Islamabad Chamber of Commerce & Industry said that the tax authority’s main role is to collect taxes and this role should be performed in a congenial and friendly environment instead of making arrests of taxpayers who are very respectable persons of the society. He said that taxpayers are the persons who contribute to the national exchequer and play a key role in promoting the national economy.

Therefore, taxpayers should be treated with great respect instead of introducing new sections in income tax law to arrest them. He said that introduction of such sections in tax laws would not serve the purpose of the country, rather it would shatter the confidence of taxpayers and discourage potential investors from investing in Pakistan.

ICCI President said that at the one hand, the Prime Minister of Pakistan is giving assurances to the business community that his government would minimize the direct interaction between the tax machinery and the taxpayers through automation, but on the other hand, new sections are being introduced in tax laws to give discretionary powers to tax collectors that would create an atmosphere of harassment in the business circles and discourage tax culture.

He said that instead of introducing sections to arrest taxpayers, preference should be given to laws for providing attractive incentives and awards to high taxpayers that would help in broadening the tax base and motivating others to become tax filers. He urged that the government should withdraw Sections 203B to 203I introduced through Finance Act 2021 in the larger national interest of the country.

Fatma Azim Senior Vice President and Abdul Rehman Khan Vice President ICCI said that the prevailing tax system is very complicated and is considered a major hurdle in promoting tax culture in the country.

 They emphasized that instead of resorting to coercive tactics, the government in consultation with stakeholders should focus on simplifying the tax system and introduce new tax laws that should help in boosting the confidence of taxpayers and support the growth of business and investment activities in the country.=DNA

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Prime Minister Imran Khan has arrived in Tashkent on a two-day official visit to Uzbekistan.

He is accompanied by Minister for Information and Broadcasting Chaudhry Fawad Hussain, Interior Minister Sheikh Rashid Ahmed, Minister for Maritime Affairs Ali Haider Zaidi, National Security Advisor Moeed Yusuf and Atif Khan.

Talks between the leadership of the two countries will cover the entire gamut of bilateral relations, with a particular focus on trade, economic cooperation and connectivity.

The leaders will also exchange views on regional and international issues of mutual interest.

The Prime Minister’s visit carries special significance particularly in respect of bilateral and regional trade, regional connectivity and defence cooperation.

During the visit, a number of agreements and MoUs will be signed in areas of mutual interest, including transportation of goods, cooperation between chambers of commerce of the two countries, trade, education, culture and tourism.

The Prime Minister will also address the first Pakistan-Uzbekistan Business Forum.

On the invitation of the Uzbek President, the Prime Minister will participate in the International Conference on Central and South Asia Regional Connectivity: Challenges and Opportunities.

ISLAMABAD: Prime Minister (PM) Imran Khan will depart for Uzbekistan on Thursday (today) on a two-day official visit,

Accompanied by a high-level delegation comprising Foreign Minister Shah Mahmood Qureshi and other members of his cabinet, Prime Minister Imran Khan will be visiting Tashkent on the invitation of Uzbek President Shavkat Mirziyoyev.

Beside members of his cabinet, a group of Pakistan’s leading businessmen will also accompany him during the trip.

The premier will address the first Pakistan-Uzbekistan Business Forum. Leading businessmen from Pakistan and Uzbekistan will participate in the forum and also hold B2B meetings.

The two countries will also hold the 6th session of the Joint Inter-Governmental Commission (JIGC) and the inaugural session of Joint Business Council (JBC) on July 14, 2021 in Tashkent.

At the invitation of the Uzbek president, PM Khan will also participate in the International Conference on “Central and South Asia Regional Connectivity: Challenges and Opportunities.” The Conference will be attended by Ministers/high representatives from Central and South Asian as well as other important countries, International Organizations, International Financial Institutions, think-tanks and scholars.

In his interactions during the visit, the PM will highlight his vision of ‘Naya Pakistan’, Pakistan’s positive contribution to peace and security at the regional and international level, and the shift from geopolitics to geo-economics.