Government tax moves spark outcry from jewellers' association

May 05, 2025 (MLN): The government’s recent economic measures, including the new Income Tax Ordinance and the inclusion of jewellers under the Designated Non-Financial Business and Profession (DNFBP) category, have drawn strong criticism from the All Pakistan Sarafa Gems and Jewellers Association.

He stated that subjecting jewellers to anti-money laundering laws is a targeted conspiracy.

The government claims jewellers sell gold without verification and keep no record of customers' financial information.

However, the truth, Shikarpuri argued, is that individuals involved in money laundering avoid purchasing jewellery altogether due to resale losses ranging between 20% to 25%, which they cannot afford.

Qasim Shikarpuri pointed out that the business community is already under immense financial stress, and these additional burdens are nothing but humiliation.

He emphasized that influential individuals and large investors continue to evade taxes, while the Federal Board of Revenue (FBR) is targeting only those traders who pay taxes honestly.

Contrary to the finance minister’s claims, corruption within the FBR remains rampant, especially in the use of Point of Sale (POS) devices, which has become a source of monthly corruption.

Granting more authority to field officers, he warned, will only increase bribery and exploitation, further crushing the lower-income class.

The Association has demanded that the government not shift the burden of its administrative failures and financial troubles onto the business community.

The current tax policy, it stated, directly contradicts the interests of traders and raises serious concerns.

The association reaffirmed its commitment to protecting the legitimate rights of traders and announced plans to raise its voice strongly at all available forums.

It called for the immediate withdrawal of the Income Tax Amendment Ordinance and the unjust actions against jewellers.

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