Karachi, September 04, 2018 (PPI-OT): PCDMA Chairman Mr. Arif Lakhani has demanded to reinstate Final Tax regime and Open Account to Prime Minster Imran Khan, Federal Minister for Finance Mr. Asad Umar and FBR Chairman Mohammad Jahanzeb Khan, also appreciated the efforts for economic reforms of Prime Minister Imran Khan and his team especially Mr. Asad Umar Federal Minister for Finance. He also request to discuss the problems of commercial importers in cabinet and solve accordingly.
Arif Lakhani also said that minimum 6% withholding tax under final fixed tax regime on import stage is totally justifying so reinstate the old final tax regime. Commercial importer pay advance tax on Import stage and on this account open and make audit is not acceptable at any cost.
Chairman PCDMA also said that recent SBP has fixed 10 thousand dollar for advance payment and give relief to only 4 specified sectors under open account is not correct decision but Federal Government should adopt uniform policy and give relief to all sectors. He further said foreign seller give goods on loan and there is no involvement of any amount of Government, so will take benefit on open account and at the same time there is no pressure on foreign reserve.
Arif Lakhani has demanded new Chairman of FBR that their should be no discrimination between commercial and industrial importers and there should be not 2 tax regime. There should be a level playing field for commercial importers also. Government has abolish value addition tax from commercial importers otherwise small industries will abolished.
For more information, contact:
Pakistan Chemicals and Dyes Merchants Association (PCDMA)
Chemical and Dye House, Rambharti Street,
Jodia Bazaar, Karachi-74000
Tel: +92-21-32432752, +92-21-32439124