KP businessmen demand immediate release of income tax refunds

PESHAWAR: The Sarhad Chamber of Commerce and Industry (SCCI) on Saturday demanded the Federal Board of Revenue (FBR) to immediately release income tax refunds to the Small and Medium Enterprises (SMEs) sector so that the corona-hit small businesses in the province could be revived.

The demand was raised during a meeting chaired by SCCI Acting President Shahid Hussain at the chamber house. SCCI Vice President Abdul Jalil Jan was also present on the occasion.

The members noted that despite clear directions by the prime minister and subsequent assurances by FBR, the payment of income tax refunds has not been made to the SMEs sector of Khyber Pakhtunkhwa.

They maintained that the negation and violation of the PM's orders and finance ministry's policy was "extremely unfortunate and tantamount to ridiculing the business community".

The meeting was earlier informed that KP SMEs were being unable to meet their basic expenses due to the outbreak of coronavirus, “and if these delaying tactics of FBR continued, the business community would be pushed into an economic depression”. 

The participants lamented the government’s "casual approach" in this regard and warned that the business community would be compelled to launch a protest campaign for what was their own money in the shape of income tax.