KARACHI: The President of the Korangi Association of Trade and Industry (KATI), Muhammad Ikram Rajput, has voiced significant concern over a recent federal constitutional court decision that grants additional powers to tax authorities, allowing them to conduct raids on taxpayers without a case. These powers include the authority for tax officials to raid business premises at any time without prior judicial approval and to seize computers, documents, and accounts, creating anxiety within the business community.
According to Korangi Association of Trade and Industry, Rajput described these powers as a direct intrusion into business autonomy and warned that they could negatively impact commercial activities. He highlighted that the business sector is already dealing with rising costs and financial pressures, and such measures could further increase market uncertainty and potentially encourage corrupt practices. Rajput emphasized that unchecked powers might lead to harassment and bribery, undermining investor confidence and harming overall economic activity.
The KATI president called on the government to ensure that the Federal Board of Revenue (FBR) and relevant institutions are bound by clear standard operating procedures (SOPs). He stressed the importance of preventing actions at business premises without prior notice to avoid unnecessary pressure on legitimate commercial activities. Rajput advocated for a transparent, balanced, and business-friendly tax system as essential for sustainable economic stability. He urged that government policy should focus on fostering trust and facilitating the business community.
He concluded by stating that KATI would continue consultations with relevant authorities to help develop a tax framework that aligns with revenue goals while supporting economic growth and safeguarding the interests of the business community.
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