ISLAMABAD: The Federal Board of Revenue (FBR) has refused to provide Input Tax Adjustment (ITA) on the production of local coal production.
According to sources, Engro Thar-coal has demanded ITA on the production of coal under the said project but the FBR has refused saying the board is not authorised to provide ITA on local coal production.
Sources added that FBR has made it clear that an amendment to the existing law is needed to facilitate the company.
Sources added that FBR has provided tax exemption and other facilities to Engro Thar-coal on the new investment under the law but there is no law to provide ITA on local coal production.
Pakistan, Iran agree to keep border crossings open round the clock to boost trade
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