Win-win solution to zero-rated issue sought
NA panel asks PM aide to find solution that benefits both govt and industry
PHOTO: BOUNDLESS
ISLAMABAD:
The National Assembly Standing Committee on Commerce and Textile has advised the commerce ministry to find a win-win solution to the issue of zero-rated sales tax regime for five major export-oriented sectors, which has been withdrawn in the budget. The meeting of the committee was held on Tuesday and chaired by Syed Naveed Qamar.
After listening to representatives of the five zero-rated sectors and the stance of commerce ministry, Qamar advised Adviser to Prime Minister on Commerce and Textile Abdul Razak Dawood to find a middle ground that could be beneficial for both the government and industry.
Earlier, the representatives of the five zero-rated sectors informed the committee about implications of eliminating the zero-rated regime. They pleaded for keeping the zero-rated sales tax system in place for textile, leather, sport goods, surgical and carpet sectors. Pakistan Apparel Forum Chairman Muhammad Jawed Bilwani urged the government to continue the ‘no payment, no refund system’ and convert it into an Act from the existing SRO.
Published in The Express Tribune, June 26th, 2019.
The National Assembly Standing Committee on Commerce and Textile has advised the commerce ministry to find a win-win solution to the issue of zero-rated sales tax regime for five major export-oriented sectors, which has been withdrawn in the budget. The meeting of the committee was held on Tuesday and chaired by Syed Naveed Qamar.
After listening to representatives of the five zero-rated sectors and the stance of commerce ministry, Qamar advised Adviser to Prime Minister on Commerce and Textile Abdul Razak Dawood to find a middle ground that could be beneficial for both the government and industry.
Earlier, the representatives of the five zero-rated sectors informed the committee about implications of eliminating the zero-rated regime. They pleaded for keeping the zero-rated sales tax system in place for textile, leather, sport goods, surgical and carpet sectors. Pakistan Apparel Forum Chairman Muhammad Jawed Bilwani urged the government to continue the ‘no payment, no refund system’ and convert it into an Act from the existing SRO.
Published in The Express Tribune, June 26th, 2019.