Withdrawal of value added tax stressed

Traders say it will provide level playing field to importers, industry

APP May 30, 2021
ATL 2021 has replaced ATL 2020 that carried names of 3.12 million individuals and companies. A comparison of both lists showed that over 932,000 names were missing from the new list.. PHOTO: FILE


Traders have requested the Federal Board of Revenue (FBR) to withdraw 3% value added tax on import of industrial raw material in a bid to provide a level playing field to importers and industry.

A delegation of businessmen from the Federation Pakistan Chamber of Commerce and Industry (FPCCI) made this demand while speaking to FBR Chairman Asim Ahmad on Saturday.

According to a press release, the meeting focused on the difficulties faced by traders at Kharlachi Border, Kurram agency. Headed by FPCCI President Nassar Hyatt Maggo, the delegation raised the issue of closure and non-clearance of vehicles at Chaman border due to rent dispute between different government institutions.

Traders also requested withdrawal of further tax and reduction in minimum tax under section 113 for different sectors. The e issue of higher tax on import of tea was highlighted by the delegation. Businessmen also presented budget proposals to FBR chairman for consideration.

Published in The Express Tribune, May 30th, 2021.

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