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Chemical importers for level-playing field

Chemical importers for level-playing field

KARACHI: Pakistan Chemical and Dyes Merchants Association (PCDMA) on Tuesday urged Federal Finance Minister Ishaq Dar to remove the difference between ‘industrial’ and ‘commercial’ importers and provide a level-playing field for doing business.

In a press release, Chairman PCDMA Khawaja Arif Kapoor said more taxes on imports of raw material for commercial importers were unjust. Taxes should be same for both types of importers, he said.

“Most member companies of PCDMA consist of commercial importers of raw material, industrial chemical and dyes which provide raw material for completion of export orders. Commercial importers pay six per cent advance income tax which is nonrefundable while industrial importers pay 5.5pc advance income tax which is refundable.

Commercial importers pay 17pc sales tax, in addition 3pc value addition tax, while industrial importers do not pay any value addition tax. Commercial importers also pay 2pc of total amount for sale of goods to non registered person and in this way commercial importers pay 11pc tax. Industrial importers pay only 5.5pc,” the release said.

Courtesy : Dawn News



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