PCDMA Chairman Urges FBR to Conduct Awareness Sessions on SRO 55(i)/2025:
KARACHI: The new conditions introduced by the Federal Board of Revenue (FBR) through SRO 55(i)/2025, which require the filing of monthly stock statements, consumption data, complex purchase, sales, and stock reports, have become a significant challenge for traders due to a lack of awareness. These conditions are especially difficult for small-scale traders to comply with.
In this regard, Salim Valimuhammad, Chairman of the Pakistan Chemicals and Dyes Merchants Association (PCDMA), stated that the business community supports economic stability and does not oppose the FBR’s initiatives. However, it is crucial to raise awareness and understanding about any new measures or policies before their implementation so that the business community does not perceive them as a burden and can cooperate with the FBR in ensuring compliance.
“The lack of awareness regarding the complex requirements for submitting stock details under SRO 55(i)/2025 makes it difficult for small-scale businesses and traders to file monthly sales tax returns on time. This is especially true for importers, traders, and wholesalers who, due to low profit margins, cannot afford the expenses of professional accountants or tax consultants,” he said.
Therefore, the FBR should recognize the challenges faced by the business community and, instead of immediate implementation of the said SRO, grant some time for compliance. Awareness sessions should also be organized to help traders meet the requirements more easily.
Salim Valimuhammad addressed the Chairman of FBR, stating that instead of abruptly implementing complex conditions, the FBR should consult with stakeholders, including the business community, and develop a feasible approach through mutual consultation to ensure easy compliance.
PCDMA Chairman was of the view that the business community and government institutions are the wheels of the economic vehicle that drives the country toward progress. Therefore, this journey can only move forward through mutual cooperation. Otherwise, the wheels of the economic vehicle will come to a halt, and the country will be deprived of substantial revenue.