Requests : FPCCI to meet PM, finance minister to discuss budget 2018-19

Officials will ask for resolution of GIDC issue and pending refunds among other problems


Our Correspondent May 08, 2018
Islamabad Chamber of Commerce and Industry. PHOTO: APP

KARACHI: A delegation of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) led by President Ghazanfar Bilour will hold a meeting today (Tuesday) with Prime Minister Shahid Khaqan Abbasi and Finance Minister Miftah Ismail to discuss the issues and anomalies of the recently announced Budget 2018-19.

According to FPCCI, its officials will request for removal of anomalies before the Finance Bill, 2018 is passed by the National Assembly.

FPCCI Senior Vice President Syed Mazhar Ali Nasir will ask the government to resolve the long outstanding issue of Gas Infrastructure Development Cess (GIDC) by rationalising the previous accumulated GIDC dues, within its tenure. Nasir will be accompanying Bilour for the meeting.

FPCCI official will also request that the further tax on sales to unregistered persons be scaled down from 3% to 1%,originally introduced vide Finance Act, 2013. According to FPCCI, it is a root cause of flying invoices.

Nasir will also be proposing that the Final Tax Regime (FTR) status of commercial importers be restored and the tax paid at import stage at 6%, be considered as full and final discharge of their tax liability.

Regarding refunds, the FPCCI official will ask the government to finalise the mechanism of payment of all pending refund claims of all federal and local taxes and duties, within three months, in consultation with FPCCI, to save the exporters from liquidity crunch.

Published in The Express Tribune, May 8th, 2018.

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