FBR’s e-form irks traders

FBR’s e-form irks traders

FBR’s e-form irks traders LAHORE: The business community of Punjab on Monday expressed reservations at the introduction of ‘Electronic Import Form’ by the FBR.

Fearing rise in smuggling and insisting that traders will opt for informal channels to avoid compliance, Lahore Chamber of Commerce and Industry (LCCI) President Sheikh Muhammad Arshad said the business community was already stressed out because of high valuation, number of taxes and cumbersome tax procedures.

The introduction of Electronic I Form will add to their problems, he said, adding the Federal Board of Revenue (FBR) did not take traders into confidence before implementing the fresh forms.

He urged the FBR to launch an awareness campaign before implementation of Electronic I Form to get desired results.

Source: http://www.dawn.com/news/1277763/fbrs-e-form-irks-traders

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