PAMA laments: Loopholes causing revenue loss

PAMA Director General urged FBR to review and remove the irregularities found in the SRO 577(I)2005

LAHORE:

Unjustified concessionary Statutory Regulatory Orders and anomalies are the major cause for the government losing billions of rupees which could otherwise be used for economic revival, said Pakistan Automotive Manufacturers Association (PAMA) Director General Abdul Waheed.

Urging the Federal Board of Revenue (FBR) to review and remove the irregularities found in the SRO 577(I)2005 regarding partial exemption of duty and taxes on used cars, Waheed said these loopholes were never rectified since 2005 and even the rates fixed in 2005 were updated only once in 2008.

“Despite repeated discussions and requests and a letter written before the budget 2014-15, only a slight revision was made, that resultantly had a marginal impact on duty collection. The government continues to lose billions of rupees as SRO 577 is against the spirit of revenue generation,” said the director general.

Published in The Express Tribune, November 27^th, 2014.

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