OICCI slams no advance tax on non-filer retailers

The Overseas Investors Chamber of Commerce and Industry (OICCI) has expressed concern that the budgetary measure of imposing advance income tax (AIT) on non-filer retailers is not being implemented. The chamber believes this is due to the stubborn stand of a large part of the retail trade who, as before, are not prepared to be part of the tax system, forcing the distributors or the brand owner company to fund the additional tax charge in some cases. In a letter to Federal Board of Revenue (EBR) Chairman Rashid Mahmood Langrial, the OICCI Chief Executive and Secretary General M Abdul Aleem recommended that the FBR and the government engage with the respective stakeholders, neutralise the undue fear of the trade and ensure full compliance with the law.