Home / Knowledge / News / Textiles / Pakistan's FBR: 2% sales tax on textile sector soon
Pakistan's FBR: 2% sales tax on textile sector soon
25
Feb '13
Pakistan’s Federal Board of Revenue (FBR) has indicated that it will soon issue a Statutory Regulatory Order (SRO) to impose two percent sales tax at every stage of the textile sector.
 
The FBR will also introduce a maximum 0.5 percent cap on sales tax refund on packing material used by the textile industry, FBR chairman Ali Arshad Hakeem said at a workshop on ‘Accelerating Tax Reforms’.
 
The two percent sales tax on the textile sector will, in effect, mean abolishing the zero-rate regime, Mr. Hakeem said during the discussion of the ‘Tax Policy Group’ at the international workshop.
 
He informed the Group, at the two-day workshop jointly organized by the World Bank and FBR, that the existing sales tax exemptions and zero-ratings would be withdrawn systematically, as it cannot be dismantled in one go.
 
He said the various industrial sectors in Pakistan enjoying tax exemptions and zero-rating know that such exemptions cannot last forever. The introduction of two percent sales tax on textile sector is a step to curtail tax exemptions in the country, he added.
 
The discussion of ‘Tax Policy Group’ centred on four key issues – the tax policy should be aimed at ensuring revenue adequacy; it should be fair, uniform and equitable; promote economic efficiency; and consistent while enabling simplification of tax structure.
 

Fibre2fashion News Desk - India


Must ReadView All

Indian apparel exporters losing competitiveness by 9%: AEPC

Apparel/Garments | On 24th Nov 2017

Indian apparel exporters losing competitiveness by 9%: AEPC

Indian apparel exporters want a higher reimbursement of central and...

Chinese e-commerce firm JD.com invests $44 mn in Tiki.vn

Apparel/Garments | On 24th Nov 2017

Chinese e-commerce firm JD.com invests $44 mn in Tiki.vn

Chinese e-commerce firm JD.com has invested $44 million in Tiki.vn, a ...

Vietnamese footwear exporters need to prepare for EV-FTA

Apparel/Garments | On 24th Nov 2017

Vietnamese footwear exporters need to prepare for EV-FTA

Vietnamese leather and footwear exporters must comply with the...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Top executives
Textile industry, India

The event should be organised every year

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search