Business

FBR’s irresponsible measures will effect investments adversely: PBC

PBC warns Federal Minister for Finance against FBR measure as it has increased the cost of doing business in Pakistan.

Kamran Mirza, Chief Executive of Pakistan Business Council PBC wrote a letter to the Finance Minister Ishaq Dar against the manhandling of Federal Board of Revenue FBR.  PBC said that this reckless attitude of FBR will discourage the foreign and local investors.

The letter states that this is not an appropriate way to deal with the country’s highest tax paying institution. This would affect the international investment.  He further added that a US investment company of PBC faces an inapt tax analysis of FBR. Therefore, the finance minister must solve this issue in precedence.

PBC is a forum that represents 45 national and multinational business corporation, their revenue is about 9 percent of GDP and they alone contribute 13 percent in the total tax collection of the country. The irresponsible behavior of FBR leaves no option for these companies except taking legal measures.

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