The automobile spare-parts importers have proposed to reduce the custom duty from 50 percent to five percent on auto parts, which would help in eradication of smuggling.
The budget proposals prepared by the Federation of Pakistan Chambers of Commerce and Industry suggest that all notices issued by Sales Tax Collectorate on behalf of Directorate of Revenue Receipt Audit (DRRA) to the commercial importers be withdrawn and this practice be stopped as it causes harassment and unrest among them.
It may be mentioned here that commercial importers are exempted from sales tax audit under rule 14(I) of special procedure, 2005 (Chapter II) issued wide S.R.O 522(1) 2005 dated 6-6-2005 on mandatory payment of 10 percent minimum value addition of sales tax in advance at custom stage.
However, the sales tax collectorate, on behalf of DRRA is issuing the audit notices to the commercial importers to conduct detailed audit requiring them to produce original record/data etc which has caused unrest among the commercial importers.
Therefore, the proposals for the upcoming budget recommend that all such notices issued by sales tax collectorate on behalf of DRRA to the commercial importers be withdrawn and this practice be stopped as it causes harassment and unrest among them.