FBR has agreed to a number of proposals related to tax incentives expected to be announced in the next budget, considering limitations under the IMF-backed reforms. FBR Chairperson Nausheen Javaid Amjad, while talking to office bearers of KCCI, assured the businessmen of support for resolution of outstanding issues related to taxation and anomalies. KCCI’s proposed withdrawal of exemption in WHT to large import houses in the budget FY21 was agreed by the FBR. It said that sales tax of 17% on import of industrial machinery would be revised to 10, 5 and 1% according to various categories. On the occasion, BMG Chairman Siraj Kassam Teli said that the govt. has to take extraordinary measures to support trade and industry to ensure their survival in these difficult times.
18/4/2020