ISLAMABAD: Federal Minister for Finance Senator Muhammad Aurangzeb said there is no legislation under government consideration to extend tax and duty exemptions for the erstwhile Federally Administered Tribal Areas (FATA) and Provincially Administered Tribal Areas (PATA) regions.
Responding to the questions of the members of the National Assembly on a calling attention notice regarding withdrawing tax and duty exemptions for erstwhile FATA and PATA regions, the minister said that all the chambers of commerce want equal level playing in the country and the tax and duty exemption in that areas would expire on June 30, 2024.
He said that those exemptions had been in place for six years in the areas.
Govt will not propose extension in tax exemptions for ex-FATA, PATA: Aurangzeb
Last year, the then government, in the federal budget for the financial year 2023-24, extended the tax exemption of FATA and PATA by one year till June 30, 2024.
The minister said that the business community, during interactions on the budget, has been advocating for a level playing field for all industries.
He said that the business community is consistently requesting the removal of provincial tax treatment and concessions, seeking equitable conditions for industries across the country.
The opposition members relevant to these areas said that their areas were declared war zone and even their people are facing terrorism. They said that it is a backward area.
However, on the concerns of the members, the minister said that in this regard, he could arrange a meeting in the Federal Board of Revenue (FBR) by inviting all stakeholders to discuss the issue.
He said that the members of the House relating to these areas should attend the meeting and present their grievances in it. Later, the finance minister laid the report of the 1st biannual Monitoring on the Implementation of 7th NFC Award, the Mid Year Budget Review Report for the financial year 2023-24, the Fiscal Policy Statement 2024, the Debt Policy Statement January 2024, the Performance Monitoring Report for the current fiscal year and audit reports of the Auditor General of Pakistan relating to the Accounts of the Federation for the years 2021-22 and 2022-23.
Copyright Business Recorder, 2024
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