Daily Times

The Rawalpindi Chamber of Commerce and Industry (RCCI) has called upon the Federal Board of Revenue (FBR) to engage stakeholders and the business community in consultations over the proposed Tax Laws (Amendment) Bill 2024. RCCI emphasized that the proposed amendments could further discourage the business community and widen the trust deficit between taxpayers and the FBR. RCCI President Usman Shaukat, in an official statement on Sunday expressed concerns saying “These amendments are overly stringent and will create significant hurdles for businesses to operate smoothly. They will further erode the already fragile trust between the business community and the tax authorities.” The RCCI urges the government to reconsider these amendments and to engage in meaningful consultations with stakeholders to create a more business-friendly and trust-based tax environment. He urged the FBR to prioritize dialogue and transparency, ensuring that stakeholders’ concerns are addressed before finalizing any legislative changes. RCCI believes that inclusive consultations are essential for fostering a fair and business-friendly taxation system.