KARACHI: Federation of Pakistan Chamber of Commerce and Industry show serious concern over the Regularity Duty imposed by the Federal Board of Revenue (FBR) vide S.R.O. 1035/17.
According to the details, a meeting at Federation of Pakistan Chamber of Commerce and Industry FPCCI SC on “Custom” chaired by Mr. Muhammad Arshad Jamal held at Federation House. S.M. Muneer was the chief guest, Muhammad Arshad Jamal pointed out the immediate and hot issues of Regularity Duty imposed by Federal Board of Revenue (FBR) vide S.R.O. 1035/17.
He stated that it is a fact that Pakistan is facing the challenge of trade deficit and in future the Government of Pakistan will face big crisis if they do not take any positive measures to resolve the issues.
He said that the taxpayers of Pakistan are also affected by smuggling, high valuation of goods, custom tariff rate etc and now by imposing overnight Regulatory Duty on thousands of import articles they cannot compete the local market of their previous orders of goods from abroad so the large number of Taxpayers could not survive.
Muhammad Amjad Chaudhry from Lahore also attended the meeting with major importers stated that the Government hasn’t any policy and vision for the taxpayers who are capturing the target of Pakistan. Now imposing Regularity Duty they will out from tax net, he suggested through shipment up to 12″ October, 2017, may allow shipment or before as per previous rate of taxes.
He directed Arshad Jamal to conduct the meeting of all stakeholder for the solution of these issues and submitted to President FPCCI. S.M. Muneer promised that the President of Pakistan will take action on this proposal and he will monitor this issue personally.
