Home / Knowledge / News / Textiles / New taxation measures will stay put for 3-5 years
New taxation measures will stay put for 3-5 years
23
Mar '11
Salman Siddique, Chairman of the Pakistan Federal Board of Revenue recently said that, the taxation measures which are likely to be finalized by close of the current month, would remain in effect for coming three to five years.

He while speaking to the members of the All Pakistan Textile Mills Association (APTMA) said that, the government possibly may think over granting a reduction in the sales tax levy on domestic consumption of textile goods, but then he discarded the chances of government negotiating on documentation.

He urged the industrialists to share their views and give suggestions regarding the issue of sales tax imposition on domestic consumption of textiles, during the meeting that FBR is to hold on March 24 at either Karachi or Islamabad.

He revealed that the government would even have a relook of its decision of sales tax levy on capital goods by close of the current month. Further, while talking on illegal imports of fabrics, he said that the government is trying to rationalise the tax structure.

Presently, the Afghan transit goods are cleared on the basis of bank guarantee equal to the domestic taxes and duties, the FBR official said and added that, the actual delivery of these goods to Afghanistan are also being observed through electronic means.

Further, while responding to a question regarding 50 percent sales tax waiver for some of the regions of Khyber Pakhtunkhawa, he said that the privilege is made available to the terror affected areas, and this would in no way impact the industries in other regions of the country.

Some of the APTMA members even set forth a proposal of exempting the non-registered producers from the stage of weaving to processing, from levy of the new sales tax.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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