World News | Pakistan Chambers of Commerce and Industry Slams New 'unfair' Tax Laws Ordinance

Karachi [Pakistan], September 21 (ANI): The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has termed 'The Tax Laws (Third Amendment) Ordinance 2021' unfair and called upon the government to hold it in abeyance.

Citing statement, Dawn reported that FPCCI president Mian Nasser Hyatt Maggo said the ordinance - which came into force on September 15 - was conflicting to Finance Minister Shaukat Tarin's vision of due consultations with all stakeholders.

Also Read | Canada Elections 2021 Live News Updates: Justin Trudeau Poised For Third Term As Prime Minister After Liberals Win Polls.

"The ordinance contains budgetary measures and these cannot be taken without due consultation with stakeholders," he added, reported Dawn.

Maggo further lamented sweeping powers to the Federal Board of Revenue (FBR) by enabling it to disconnect mobile phone, electricity and gas connections of the non-filers of income tax returns.

Also Read | Canada Elections 2021 Results: Justin Trudeau Set To Become PM for Historic Third Time After Liberals Win Polls.

The new ordinance also empowers the National Accountability Bureau to open income tax cases as old as 20 years by accessing tax records through the National Database and Registration Authority.

"It was FPCCI's proposal to disconnect the connections of commercial and industrial non-filers. However, this ordinance does not take due and fair procedure of separation of executive and adjudication into account. The ordinance vaguely mentions under-assessed income tax filers and provides blanket discretionary powers to the income tax officers," the statement read, as per local media.

Pakistan President Arif Alvi promulgated the Tax Laws (Third Amendment) Ordinance 2021 for allowing the Federal Board of Revenue (FBR) to share its data with the National Database and Registration Authority (NADRA) with the objective to broaden the tax net.

National Database and Registration Authority (NADRA) shall share its records and any information available or held by it with the Board, as per the ordinance. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)