The FBR has assured the textile sector that all sales tax refunds would be issued to the textile sector by August 31, 2015 and has taken decision for speedy payment of refunds to the textile sector. On the directions of Finance Minister Ishaq Dar, a high level meeting of the representatives of textile industry was held in FBR (HQs) to discuss issues relating to viability of textile sector and early payment of income tax and sales tax refunds to the textile industry.
The meeting was chaired by Haroon Akhtar Khan, special Assistant to the Prime Minister on Revenue. Secretary Textile, Amir Muhammad Khan Marwat, Senior officials from Ministry of Commerce, Members of FBR and other senior officers of FBR also attended the meeting. It has also been decided that the income tax refunds pertaining to the section 65D and E of the Income Tax Ordinance 2001 will be processed for issuance as early as possible, official added.
The representatives of the industry explained viability issues of the industry due to high inputs and tough international competition. They also raised certain issues relating to FBR which were discussed at length. Many of the issues were settled during the meeting and textile industry representatives expressed their satisfaction. Haroon Akhtar Khan assured the industry that FBR will facilitate the industry and try its best to resolve the issues (which could not be settled during the meeting), as early as possible.
The meeting lasted for more than three hours and was held in a very friendly and amicable atmosphere. The textile industry representatives thanked the FBR team in general and Haroon Akhtar Khan, Special Assistant to Prime Minister on Revenue, in particular for taking keen interest and giving a patient hearing.
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