Islamabad – Pakistan’s jewelry sector has raised serious concerns over taxation policies during a high-level meeting with the Federal Board of Revenue, highlighting issues that are negatively impacting business operations and growth.
The concerns were presented by the Islamabad Chamber of Commerce and Industry, representing local traders, during a meeting with officials at the Regional Tax Office (RTO) Islamabad. Sardar Tahir Mahmood, President of ICCI, met with Chief Commissioner Inland Revenue Ayesha Farooq to discuss challenges faced by jewelers, particularly those operating in Jinnah Super Market.
During the meeting, ICCI highlighted key concerns, including the imposition of a 3% sales tax, mandatory installation of the Point of Sale (POS) system, and enforcement actions such as sealing of shops by FBR authorities. Traders argued that these measures are creating operational hurdles and uncertainty in the market.
Responding to the concerns, the Chief Commissioner assured the business community of full cooperation in ensuring smooth implementation of tax regulations. She acknowledged the importance of traders in driving economic activity and emphasized the need for a balanced approach that promotes compliance without disrupting businesses. She also assured that sealed outlets would be reopened and such actions would be avoided moving forward.
Both sides agreed to enhance coordination and maintain continuous dialogue. To facilitate this, Fasihullah Khan was appointed as focal person by ICCI, while Fatima Tariq was nominated by the FBR.
Earlier, a delegation of jewelers led by Ajmal Baloch met ICCI officials to discuss taxation challenges and propose solutions aimed at supporting business sustainability and growth.