LAHORE: Lahore Chamber of Commerce & Industry (LCCI) President Mian Abuzar Shad has criticized recent amendments to the Income Tax Ordinance 2001 and the Federal Excise Act 2005 introduced through a Presidential Ordinance, calling them harmful to the business community.
Shad expressed concern that the extraordinary powers granted to the Federal Board of Revenue (FBR) through these amendments could undermine private business autonomy, civil liberties, and overall economic stability. He has called for an emergency meeting of all Chambers of Commerce and Trade Associations across the country to discuss the issue, scheduled for Monday at the Lahore Chamber.
One of the most alarming changes, according to Shad, is the addition of Section 3A to the Income Tax Ordinance, which allows for immediate tax recovery following a decision from the High Court or Supreme Court, bypassing the standard legal process. Similarly, Clause 6A added to Section 140 gives the FBR the authority to freeze a taxpayer’s bank account and withdraw funds without prior notice or legal procedures.
Shad also raised concerns over Section 175C, which enables the FBR to assign its officers to business premises to monitor production, services, and stock. He described this as a violation of business confidentiality and an unwarranted intrusion into private enterprise.
Additionally, the amendments to the Federal Excise Act now criminalize the use of counterfeit stamps, barcodes, or labels and expand the powers of various departments to check and confiscate goods. Shad warned that these changes could threaten the constitutional jurisdiction of central authorities and further tighten control over businesses.
