{"id":52650,"date":"2019-06-12T16:59:12","date_gmt":"2019-06-12T11:59:12","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=52650"},"modified":"2019-06-12T16:59:12","modified_gmt":"2019-06-12T11:59:12","slug":"zero-rating-facility-discontinued-export-oriented-sectors","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/zero-rating-facility-discontinued-export-oriented-sectors.html","title":{"rendered":"Zero-rating facility discontinued for export-oriented sectors"},"content":{"rendered":"

Islamabad: The government in Budget 2019-20 has decided to discontinue the zero-rating facility for the five export-oriented sectors, a news source reported.<\/p>\n

Read:\u00a0Exporters insist on the zero-rating incentive<\/a><\/p>\n

These sectors include textiles, carpets, sports goods and surgical goods. A 17% Sales Tax has now been imposed on these sectors.<\/p>\n

The Minister of State for Revenue Hammad Azhar said during the budget speech that the objective of the facility was to resolve delays in refund payments. However, zero-rating has created a loophole and the benefit is being availed by unintended beneficiaries.<\/p>\n

Zero-rating of utilities (gas, electricity and fuels) allowed to these export-oriented sectors through various sales tax general orders will also be withdrawn.<\/p>\n

Read:\u00a0FPCCI against withdrawal of zero-rating facility<\/a><\/p>\n

Instead of zero-rating, the government has promised speedy refund claims against actual exports. The refund of sales tax to these sectors will be automated. This will ensure that the sales tax paid on inputs is immediately refunded.<\/p>\n

From sales taxes, the government is expecting to raise PKR 250 billion as incremental revenue, via GST rate adjustments in various areas and the elimination of zero-rating.<\/p>\n","protected":false},"excerpt":{"rendered":"

Islamabad: The government in Budget 2019-20 has decided to discontinue the zero-rating facility for the five export-oriented sectors, a news source reported. Read:\u00a0Exporters insist on the zero-rating incentive These sectors include textiles, carpets, sports goods and surgical goods. A 17% Sales Tax has now been imposed on these sectors. The Minister of State for Revenue Hammad Azhar said during the budget speech that the objective of the facility was to resolve delays in refund payments. However, zero-rating has created a loophole and the benefit is being availed by unintended beneficiaries. Zero-rating of utilities (gas, electricity and fuels) allowed to these export-oriented sectors through various sales tax general orders will also be withdrawn. Read:\u00a0FPCCI against withdrawal of zero-rating facility Instead of zero-rating, the government has promised speedy refund claims against actual exports. The refund of sales tax to these sectors will be automated. This will ensure that the sales tax paid on inputs is immediately refunded. From sales taxes, the government is expecting to raise PKR 250 billion as incremental revenue, via GST rate adjustments in various areas and the elimination of zero-rating.<\/p>\n","protected":false},"author":18,"featured_media":35023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[11872],"persona":[],"class_list":{"0":"post-52650","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-details-on-zero-rating-facility-discontinued-for-export-oriented-sectors"},"acf":[],"yoast_head":"\nZero-rating facility discontinued for export-oriented sectors - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The government in Budget 2019-20 has decided to discontinue the zero-rating facility for the five export-oriented sectors, a news source\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/zero-rating-facility-discontinued-export-oriented-sectors.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zero-rating facility discontinued for export-oriented sectors - 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