ISLAMABAD: The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has urged the government to declare all export sectors zero-rated from July 1 and waive import duty and sales tax on import of plants and machinery.
Formally submitting the chamber’s budget proposals to the National Assembly’s Standing Committee on Finance on Wednesday, FPCCI representative Zubair Tufail asked the government to declare tax free all new industries established up to 2020.
“It’s imperative to expand the tax base to reduce pressure on existing taxpayers,” he said.
The FPCCI’s proposals call for steps to curb smuggling, under-invoicing and mis-declaration.
Courtesy : Dawn News