I have been a regular tax payer. As a salaried person, the Income Tax was being deducted at source. For the financial year 2013-2014 I had duly paid tax. The Tax Return and the Wealth Statement was filed at FBR under their proper acknowledgement.
I retired from the service recently. The tax was also deducted from the retirement benefits. Against the retirement funds, I had issued two cheques to National Savings for investment with them for getting a regular income to meet the kitchen expense. Another cheque I issued for car insurance. A huge amount was deducted by the bank at the rate of 0.6 per cent as per recently introduced taxation on all the three transactions.
How cruel this system is for an ex-salaried person: the first tax was deducted from the retirement benefits; the second the transaction tax and the third will be levied on the profit I will get from National Savings on account of Regular Income Certificates. I didn’t file the e-returns but the manual returns I submitted mentioned the CNIC and NTN. So, FBR before launching the onslaught must have updated their records and would have advised the banks accordingly. When tried filing e-Returns the FBR system is telling that I am already registered but I don’t know the ID and password for which I have requested FBR helpdesk but no proper response received in a week’s time.
Their telephones are always telling that all the lines are busy at the moment. I strongly suggest the government to immediately withdraw the transaction tax and make refunds. Give proper time to the citizens to file the electronic tax returns. I wonder our elected representatives were sleeping when such harsh tax regime was being introduced in the current financial bill. FBR should synchronise and update their records and find a way to avoid double or triple tax recovery. If prudence is not exercised, I foresee that depositors will be withdrawing their savings from the banks. The banking system will be collapsed and hundi system will flourish.
AN AFFECTED CITIZEN
Karachi
