Tax system to be further simplified

Tax system would be further streamlined by the Central Board of Revenue (CBR) in order to remove ambiguities and simplify the procedure, stated Collector Sales Tax (East), Afzal Bhatti, on Monday.

Talking to a delegation of the Pakistan Leather Garments Manufacturers and Exporters Association (PLGMEA) at his office, Bhatti further informed that CBR has reorganised two Sales Tax Collectorates in Karachi and they would be merged into one 'Model Sales Tax Centre' to be located at the Old Sabzi Mandi.

He said the new collectorate would have three functional groups – refund, audit and legal.

Bhatti said the objective was to make the system more taxpayer-friendly as well as more transparent.

A statement said PLGMEA chief hailed the decision of CBR and hoped the operations of the Sales Tax Collectorate would improve and refunds would be expedited.

He discussed Section 73 of the Sales Tax Act 1990 and suggested that this condition be relaxed for the exporters.

Bhatti pointed out that the PFCCI committee on sales tax irritants had already held three meetings with the sales tax officials to make amendments in that section.

He said two proposals put forward in that regard included extending time limit for supplier payment to 180 days or restricting payment to only 15 per cent GST within the stipulated timeframe of 120 days.

These amendments were proposed in the federal budget for the fiscal 2003-04, the statement added.

PLGMEA chief presented a list of pending sales tax refund claims of the association's members in the collectorate and requested the collector to expedite payment of refunds.

Related Articles

Back to top button
Stay up to date
Don't miss out on the latest industry news and articles
Stay up to date
Don't miss out on the latest industry news and articles
You are Subscribed!
Your subscriptions means a lot to us.
Don't miss out on the latest Industry news
You are Subscribed!