Karachi, April 25, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has voiced significant concerns over the Federal Board of Revenue’s (FBR) recent regulatory changes, labeling the Statutory Regulatory Order (SRO) 350 as anti-business and a potential threat to the ongoing viability of trade and industry sectors across Pakistan. In a sternly worded letter to Malik Amjad Zubair Tiwana, the chairman of the FBR, FPCCI President Atif Ikram Sheikh highlighted the apprehensions of the business community regarding SRO 350 (I)/2024 issued on March 7, 2024, and the subsequent SRO 582 (I)/2024 dated April 18, 2024, which amended the Sales Tax Act, 1990. According to Sheikh, these regulatory updates were introduced without adequate consultation with key stakeholders, including trade bodies, raising questions about their feasibility and the FBR’s approach to policy-making. “The clauses of the SRO, as they stand, are impractical and, if enforced, would bring almost all trade operations in the country to a standstill,” Sheikh stated in the letter. One of the major points of contention is the requirement for biometric verification. The FPCCI criticized clause ‘C’ sub rule 4, which mandates owners of business entities to undergo biometric verification at a NADRA Sahulat Center. Sheikh argued that this requirement not only undermines the ease of doing business but also imposes unnecessary hurdles for business owners, potentially disrupting daily operations. Another critical issue highlighted by the FPCCI is the amendment under rule 18(B) of SRO 350. This rule stipulates that if a seller fails to file his monthly tax return within the prescribed 12-day period post-month-end, the buyer’s corresponding purchase invoice will automatically be deleted from the FBR system, thus…