The Pakistan Business Council (PBC) has registered a complaint with Finance Minister Ishaq Dar regarding Federal Board of Revenue’s (FBR) “coercive measures” of increasing the cost of doing business in the country.
In his letter to Dar, PBC Chief Executive Kamran Mirza said that such an attitude will adversely impact the country’s ability to attract investment.
“Our members are among the ethical and largest taxpayers in the country, and they are most disturbed by these ongoing arbitrary inquiries,” stated the letter.
The letter also stated that though increasing cost may prove beneficial in increasing revenues for the government in the short run but would have adverse effects eventually.
“This will also hinder the country’s ability to attract the critically needed investment – local and foreign.“
While drawing attention towards a particular case, the official said that Phillip Morris (Pak) Limited, one of the largest private sector US investment and also the largest taxpayers in Pakistan, is also facing arbitrary/irrational tax assessments by FBR.
The letter warned that if these arbitrary/ irrational assessments persist and FBR’s continues to mishandle their tax issues, it may lead to unintended and unfortunate consequences.
