Karachi: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has asked the government for its overdue refunds of export sales tax or it will move to the Supreme Court (SC), according to a news report. The FPCCI President Ghazanfar Bilour has said that if the taxes aren\u2019t refunded, then the exports are likely to fall.<\/p>\n
The government had agreed to refund PKR 400 billion at different times, but up until now, has only returned PKR 45 billion. Bilour has highlighted that non-payment from the government will adversely affect the small to medium scale traders.<\/p>\n
Bilour has also highlighted that the government has not given any favours to the construction industry, without which there won\u2019t be any growth in the associated industries. The FPCCI Vice President Tariq Haleem has criticised trade tax, whereas Vice President Zahid Saeed is critical of the government\u2019s tax regime on pharmaceutical companies.<\/p>\n
However, when talking about the positive features of this year\u2019s fiscal budget Bilour said that the incentives for the agriculture sector, reduction of corporate tax, LED lights and electrical cars, and a three years\u2019 tax exemption for new industries are all welcomed moves. FPCCI\u2019s Senior Vice President Syed Mazhar Ali Nasir has praised the government for its decision on increasing health and education budgets.<\/p>\n","protected":false},"excerpt":{"rendered":"
Karachi: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has asked the government for its overdue refunds of export sales tax or it will move to the Supreme Court (SC), according to a news report. The FPCCI President Ghazanfar Bilour has said that if the taxes aren\u2019t refunded, then the exports are likely to fall. The government had agreed to refund PKR 400 billion at different times, but up until now, has only returned PKR 45 billion. Bilour has highlighted that non-payment from the government will adversely affect the small to medium scale traders. Bilour has also highlighted that the government has not given any favours to the construction industry, without which there won\u2019t be any growth in the associated industries. The FPCCI Vice President Tariq Haleem has criticised trade tax, whereas Vice President Zahid Saeed is critical of the government\u2019s tax regime on pharmaceutical companies. However, when talking about the positive features of this year\u2019s fiscal budget Bilour said that the incentives for the agriculture sector, reduction of corporate tax, LED lights and electrical cars, and a three years\u2019 tax exemption for new industries are all welcomed moves. FPCCI\u2019s Senior Vice President Syed Mazhar Ali Nasir has…<\/p>\n","protected":false},"author":60,"featured_media":37530,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[5385,6037,546],"persona":[],"class_list":["post-37529","post","type-post","status-publish","format-standard","has-post-thumbnail","tag-benefits-of-filing-tax-returns","tag-fpcci","tag-tax"],"acf":[],"yoast_head":"\n