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

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Liz Manning

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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

October 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
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

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
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

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
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

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
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


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