ISLAMABAD: A meeting between representatives of beverage industry has been scheduled with Finance Minister Ishaq Dar on February 13 at the Ministry of Finance to discuss changes in the capacity tax regime keeping in view the revenue collection target in 2013-14.
Federal Board of Revenue has prepared a detailed presentation for the beverage industry with particular focus on revenue contribution by the manufacturers during the first half of fiscal year 2013-14.
The rules of capacity tax were made applicable to all manufacturers of aerated waters in Pakistan from July 1, 2013. Under this arrangement, FBR collects federal excise duty and sales tax on the basis of production capacity of plants, machinery, undertakings, establishments or installations manufacturing aerated waters, in lieu of the federal excise duty and sales tax leviable.
