Conducive environment needed for industrialists: KATI President

City News 2 hours ago
Conducive environment needed for industrialists: KATI President
  • 6
  • 0

Karachi: Federal Tax Ombudsman (FTO) Dr. Asif Mahmood Jah announced that over 11,000 tax-related complaints were received this year, of which 94% were resolved promptly.

Speaking at the Korangi Association of Trade and Industry (KATI),  KATI President Junaid Naqi, Senior Vice President Ijaz Ahmed Sheikh, Vice President Tariq Hussain, Standing Committee Chairman Tariq Malik, Former President Masood Naqi, FTO members including Almas Ali Jovinda, Dr. Faiz Elahi Memon, Faisal Muhammad Abrejo, Badruddin Ahmed Qureshi, Gul Rehman, Abid Mahmood and Shahid Nawaz and industrialists were also present at the ceremony. Dr. Jah highlighted that while the FTO is authorized by law to resolve cases within 60 days, decisions are currently being made in an average of 37 days to facilitate taxpayers.

He emphasized that FTO decisions are binding, and compliance from the Federal Board of Revenue (FBR) is mandatory, with appeals against FTO decisions only permissible to the President of Pakistan. Notably, 98% of FTO decisions appealed to the President have been upheld.   Dr. Jah detailed steps taken to expand public and business community awareness regarding the FTO’s role, citing the increase in regional offices under his tenure.

He encouraged taxpayers to approach the FTO without fear for any grievances, adding that the FBR has instructed its officials to refrain from issuing notices or audit orders to complainants while their cases are under review. He also shared the resolution of a notable refund case worth Rs. 17.8 billion in 2021.   Earlier, KATI President Junaid Naqi addressed the gathering, expressing concern over increasing harassment of industrialists by FBR officials through unjustified notices and audits. He highlighted systemic issues, including delays in refunds and inefficiencies in the tax return submission process.  KATI’s Standing Committee Chairman Tariq Malik praised Dr. Jah’s proactive leadership, noting that complaints increased from 2,000 in 2021 due to enhanced trust from the business community. 

Akhtar Shaheen Rind
Akhtar Shaheen Rind https://www.dailynationalcourier.com/author/akhtar-shaheen-rind
Senior Journalist at Daily National Courier. Head of Reporting & Business Desk. A seasoned professional associated with journalism for over 20 years.

NC Big Stories

Capacity building workshop to combat tuberculosis held

Karachi: A workshop focused on building the capacity of administrative and medical staff in women and juvenile prisons across Sindh to combat tuberculosis (TB) was held by the Bridge Consultants Foundation (BCF) organized.  The event was held a...

Conducive environment needed for industrialists: KATI President

Karachi: Federal Tax Ombudsman (FTO) Dr. Asif Mahmood Jah announced that over 11,000 tax-related complaints were received this year, of which 94% were resolved promptly. Speaking at the Korangi Association of Trade and Industry (KATI),  KATI Pre...

Governor Tessori welcomes newly appointed Swedish envoy Alexandra Berg

KARACHI: Governor Sindh Kamran Khan Tessori welcomed Swedish Ambassador Ms. Alexandra Berg Von Linde to discuss bilateral relations, investment, and trade. The meeting emphasized the strengthening Pakistan-Sweden ties and explored opportunities for S...

Gold price soars by Rs3,600 per tola

KARACHI: Gold prices in Pakistan saw a significant rise on Tuesday, mirroring the global uptrend. The price of gold per tola surged by Rs3,600, reaching Rs273,500, according to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA). Similarly...

More like this
Related

IDEAS 2024: Karachi police announces traffic plan

KARACHI: The Karachi Traffic Police have announced extensive traffic restrictions and diversions in the city as the International Defence Exhibition and Seminar (IDEAS) 2024 begins today (Monday) at the Expo Centre. The measures are aimed at ensuring...

Capacity building workshop to combat tuberculosis held

Karachi: A workshop focused on building the capacity of administrative and medical staff in women and juvenile prisons across Sindh to combat tuberculosis (TB) was held by the Bridge Consultants Foundation (BCF) organized.  The event was held a...

Governor Tessori welcomes newly appointed Swedish envoy Alexandra Berg

KARACHI: Governor Sindh Kamran Khan Tessori welcomed Swedish Ambassador Ms. Alexandra Berg Von Linde to discuss bilateral relations, investment, and trade. The meeting emphasized the strengthening Pakistan-Sweden ties and explored opportunities for S...

Two Female Pakistani scholars honored with ISAC Travel Award

KARACHI: Two female Ph.D. Scholars from the Dr. Panjwani Center for Molecular Medicine and Drug Research (PCMD) at the University of Karachi, Ms. Sidrah Asghar and Ms. Rabia Ilyas, have been honored with the prestigious Young Investigator Travel Awar...
Need Help? Chat with us