Finance Minister Ishaq Dar has directed Federal Board of Revenue (FBR) to immediately take action on six major taxation proposals of the business community covering imposition of the regulatory duty (RD) on the import of polyester yarn/fabrics and abolish sales tax on services from units registered as exporters. Sources told Business Recorder here on Wednesday that the Ministry of Finance has picked six proposals of the business community on priority basis. On the basis of input of the FBR, Finance Minister would give final approval.
According to the Finance Ministry order issued to the FBR, the Finance Ministry has compiled a list of suggestions/recommendations made by Members of the business community during their meetings with the Finance Minister. Ishaq Dar has desired that these suggestions may be examined and appropriate action be suggested by the FBR. Firstly, sales tax zero percent for registered units & 2 percent sales tax for non-registered units within supply chain of textile industry.
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