Electricity consumption: FBR to check misuse of zero-rated tax
FBR to take action against the industrial units which are misusing the zero-rated sales tax facility on electricity
ISLAMABAD:
The Federal Board of Revenue (FBR) has decided to take action against the industrial units which are misusing the zero-rated sales tax facility on electricity, sources told The Express Tribune on Tuesday. They said that the FBR had received reports from regional tax officers (RTOs) that many industrial units in the 10 zero-rated sectors, including textiles, leather, garments, sports and carpets, were taking advantage of the facility without producing the zero-rated goods. The FBR has directed RTOs to compile a list of the industrial units which are getting zero-rated electricity, but causing a huge loss to the national exchequer by not producing the zero-rated goods, they said. The FBR withdrew the zero-rated sales tax facility on electricity in many cases recently when it found industrial units were misusing it, they added.
Published in The Express Tribune, September 14th, 2011.
The Federal Board of Revenue (FBR) has decided to take action against the industrial units which are misusing the zero-rated sales tax facility on electricity, sources told The Express Tribune on Tuesday. They said that the FBR had received reports from regional tax officers (RTOs) that many industrial units in the 10 zero-rated sectors, including textiles, leather, garments, sports and carpets, were taking advantage of the facility without producing the zero-rated goods. The FBR has directed RTOs to compile a list of the industrial units which are getting zero-rated electricity, but causing a huge loss to the national exchequer by not producing the zero-rated goods, they said. The FBR withdrew the zero-rated sales tax facility on electricity in many cases recently when it found industrial units were misusing it, they added.
Published in The Express Tribune, September 14th, 2011.