Director Valuation of Custom, Khuaja Tanveer Ahmed has advised business community to send suggestion to resolve custom valuation issue. Speaking at a meeting of Pakistan Yarn Merchant Association (Sindh Balochistan Zone), he agreed with the business community that after declaiming of commodities prices in the international market there is big gap persist in valuation of goods.
He said that there is a need to change valuation parameters to overcome this gap of increasing difference in valuation of goods. He said that Federal Board of Revenue (FBR) is improving its working in consultation with business community and advised them to send practicable suggestion regarding valuation of goods. Replying to a question regarding news of withdrawal of zero-rated sales tax facility from textile sector, he advised business community to inform FBR about their concern and send their suggestion in this regard.
Chairman of the association, Muhammad Usman said that it is unanimous demand of members of the association to continue zero rated sales tax facility for textile sector.