Islamabad, Jan. 2 -- Pakistan's chief tax authority, the Federal Board of Revenue (FBR) has issued a directive to scrutinise tax records of exporters in order to review income tax returns, and assess any possible discrepancies, inconsistencies, or "abnormal reductions," triggering mounting concerns among the country's business community, and prompting several exporters associations to convene emergency meetings.
Exporters argued the directive signals the reopening of settled cases and risks discouraging exports at a time when the financial environment was already riddled with struggles, such as rampant inflation, decreasing job competitiveness, and high taxes.
The FBR, however, has rejected claims of a crackdown, insisting the exercise is...