Published On: Wed, Jul 17th, 2019
Published in Category: Karachi

FPCCI asks FBR to remove sales tax on plants, machinery

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Karachi : President of the Federation of Pakistan Chamber of Commerce & Industry (FPCCI) Engineer Daroo Khan Achakzai has urged, Chairman, Federal Board of Revenue (FBR) to remove the anomaly of levying Minimum Value Added Sales Tax @ 3% on Plants and machinery

During a meeting he argued that it would run counter-productive to the government efforts to attract investment; increase production; boost export and create employment opportunities in the country.

The FPCCI Chief recalled that when the anomaly was brought in his (Chairman FBR) notice, he immediately agreed to remove it from the statute. Moreover, earlier, Hammad Azhar, the then Minister of State for Revenue, realizing the gravity of the anomaly had remarked that it had been crept erroneously in the Finance Act, 2019 and assured to withdraw it. “However, the anomaly is not removed as yet and the industry is suffering from confusion and problem in import of Plant and Machinery without the Sales Tax”, he lamented.