LAHORE:
The Lahore Chamber of Commerce and Industry (LCCI) has expressed deep concerns over the high fees levied for e-compliance under SRO 428(I)/2024. In a letter to Prime Minister Shehbaz Sharif, LCCI President Kashif Anwar highlighted the additional burden these charges are putting on the already distressed business community.
Anwar pointed out that businesses in Pakistan face serious economic challenges such as inflation, rupee depreciation, high energy costs and high interest rates. He expressed deep concerns over the exorbitant charges reported by the sole licensee for e-invoicing systems integration with the Federal Board of Revenue (FBR) vide order SRO 428(I)/2024 dated March 22, 2024.
Anwar noted that the business community has already been adversely affected by the recent amendments to the Finance Act 2024 and some SROs, including SRO 350(I)/2024 and SRO 1842(I)/2023. In this context, it described the one-time installation fee of Rs 1,500,000 and annual maintenance charges of Rs 3,500,000 or Rs 60 per invoice (whichever is higher) as prohibitively high for commercial enterprises. Such spending, he warned, threatens the viability of many businesses and could lead to their closure.
“Considering the resources and grants available for automation, we strongly believe that the setup and maintenance costs for e-incorporation of businesses should be minimal to avoid undue financial pressure on taxpayers and enhance documentation,” he added. Anwar.
He emphasized that the challenges facing the business community require thoughtful strategies and policies to support the business sector and economic development. He urged the Prime Minister to intervene early to address these issues and ensure a just and sustainable solution.
The LCCI president also reaffirmed his support for government efforts to promote documentation and expand the tax base. He expressed confidence that under the visionary leadership of the Prime Minister, Pakistan’s economy would see a major turnaround.
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