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Circular 20 of 1992
12-21-2011, 05:33 AM
Post: #1
Circular 20 of 1992
Presumptive tax on exporter Clause 2(1)Please clarify it
"Local Sales of goods not constituting more than 20 % of such production may also be treated as export sales if the assesse opts to pay tax on such sales at the rate applicable to export sale "
Pls confirm me is this circular still valid or not ?
If yes then confirm me following working is correct
Export 100000
Local Sales 18000 ( supplies )
Tax Return we have declared only export sales not local sales bcz it is less then 20 % of export .Is it correct working ?
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Circular 20 of 1992 - Information Consultant - 12-21-2011 05:33 AM
[] - Naseem Iqbal - 12-31-2011, 04:43 PM
[] - Information Consultant - 01-02-2012, 05:43 PM

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