ISLAMABAD, JUL 2 /DNA/ – The Islamabad Chamber of Commerce and Industry (ICCI), has called for the immediate repeal of Section 37AA of the Income Tax Ordinance, which empowers tax authorities to arrest individuals without prior judicial approval.
In a strong statement issued here on Wednesday, the ICCI President Nasir Mansoor Qureshi, Senior Vice President Abdul Rehman Siddiqui and Vice President Nasir Mehmood Chaudhry have warned that granting unchecked powers to tax officials could severely undermine investors’ confidence and derail Pakistan’s already fragile economy. “Such a provision poses a serious threat to the constitutional rights of citizens and adds the prevailing uncertainty in the business environment,” the statement added.
They emphasized that the recent amendments introduced by the government are merely cosmetic and fail to address the core concerns of the business community. “Rather than restoring confidence, these measures risk further damaging the country’s investment climate and complicating the government’s own economic and export ambitions,” they cautioned.
They reiterated that the business community has never been against paying taxes, but stressed that taxation must be fair and rational. “Instead of putting pressure on the existing taxpayers, the government should focus on expanding the tax net to meet its fiscal goals,” they added.
They assured that ICCI has always supported and will continue to support smooth tax compliance and reforms that are just, equitable, and in the best interest of the national economy.
