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KOHAT, Jul 13 (APP):The Kohat Chamber of Commerce and Industry has expressed its concern over the recent implementation of various tax laws by the Federal Board of Revenue (FBR) and their potential impact on the business community.
In statement on Sunday, President Rashid Paracha and other senior officials expressed deep reservations over laws, including Sections 37AA, 165, 21C, 236Y, and compulsory digital invoicing. They argue that these laws would increase unnecessary pressure on businesses, affecting the business environment, inflation, and unemployment.
The Chamber’s officials highlighted specific issues with each law, including harassment under Section 37AA, lack of transparency in Section 165, and practical problems with Section 21C’s ban on cash transactions. They also expressed concerns about the withholding tax on cash withdrawals under Section 236Y and the impracticality of mandatory digital invoicing for small and medium businesses.
The Kohat Chamber also demanded of the government to review these controversial provisions and consult with all stakeholders, particularly the business community, before implementing such laws. They further warned that if the government fails to do so, the business community will continue its protest within the legal and democratic framework for a long time.