LAHORE: Lahore Chamber of Commerce & Industry (LCCI) Tuesday expressed its concerns at the recent move of Federal Board of Revenue (FBR) of restoring the tax officials’ powers to freeze bank accounts for the recovery of taxes.
LCCI President Mian Nauman Kabir, Senior Vice President Mian Rehman Aziz Chan and Vice President Haris Ateeq told the media here that now the tax officials are not legally bound to take prior approval of the Chairman FBR and give 24-hour prior intimation to the CEO/principal officer/owner of companies before freezing the bank accounts.
They were of the view that this step would affect the business friendly environment in the country.