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Pakistan’s FBR to introduce ‘no payment no refund’ system

The Federal Board of Revenue (FBR) has received a recommendation to introduce ‘no payment no refund’ system for exporters and to immediately withdraw increase in import duty on coal from 1 per cent to 5 per cent, as this would nullify the government's positive initiative to use coal as an alternative fuel, from the Senate Standing Committee on textile industry.

The textile sector, which is currently ranked fourth in the priority for provisions of gas must be supplied natural gas, as per the committee’s recommendations. Another point of discussion was the comparative study on regional electricity rates in competing exporting countries. NEPRA should ensure uninterrupted energy supply to the textile industry and tariff of power should be at par with the rates of electricity tariff and surcharges of competing countries in the region, according to the committee.

Moreover, the committee recommended zero rating sales tax facility, ‘no payment no refund’ system for exports to declare textile sector as zero-rated. Moreover, if sales tax is collected at retail stage, it will ensure revenue on the goods that arrive in the country and the entire local consumption, it suggested.

Besides, it said, immediate refunds of all outstanding claims of sales tax, DLTL and customs rebate, etc., should be cleared by the government at the earliest. It recommended that wherever the claim/refunds are processed and eligibility is established, the payments should be made not later than 90 days, though stated that refund claims are processed.

The government should ensure protection of interests of all stakeholders from farmers to spinners while purchasing cotton directly from the farmers, according to the committee. This is because, the looms apprehensions of farmers are exploited by monopolists and this further aggravates the situation.

www.senate.gov.pk

 
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