Govt to Make Separate Window for SMEs at Federal Tax Ombudsman

The government is establishing a separate window for Small and Medium Enterprises (SMEs) at the Federal Tax Ombudsman (FTO) to facilitate the SME sector for its tax-related complaints.

The Ministry of Industries and Production revealed that the Federal Tax Ombudsman will be strengthened and a separate window will be introduced for the SME sector. The window will guide the SMEs and will serve to look into companies’ complaints about their tax complaints. A time limit will also be set for the disposal of all the complaints.

The ministry added that the government is starting a process under the new SME policy to refine the tax regulatory system. The Federal Board of Revenue (FBR), and federal and provincial governments will consider the consolidation, harmonization, and amalgamation of taxes and levies rates, and the number of the collection systems at the provincial and federal levels. Furthermore, talks with the FBR for a gradual reduction in withholding tax with a corresponding increase in formalization and sales/income tax receipts are underway.

Under the new policy, the government is considering a mechanism to issue a single unique identifier to each firm that can be used with all the government departments to electronically draw up relevant data, precluding the need to enter information separately.

Faiz Paracha is a seasoned broadcast journalist with over 15 years’ experience in reporting and e...



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