The ruling states that affidavits will not be necessary for returns filed this month for the tax period of September. Following concerns from the Federation of Pakistan Chambers of Commerce and Industry and other prominent exporter associations regarding the condition’s detrimental effects on businesses, a decision was made.
Until October 31st, the stakeholders will submit alternative recommendations to the FBR in an effort to stop the growing problem of fraudulent sales tax returns. The FBR has the authority to alter the affidavit’s details in cases where stakeholders have legitimate concerns.
As exporters do not have access to the multi-tier supply chain, Khurram Mukhtar, the patron-in-chief of the Pakistan Textile Exporters Association, stated that the FBR should do away with the requirement of an affidavit from the CFO. He mentioned exporters.
