LAHORE: Freight forwarders should be exempted from tax audit for five years and turnover tax should be reduced.
These views were expressed by Khawaja Shahzeb Akram, Senior Vice President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) during a meeting with a delegation of Pakistan International Freight Forwarders Association at FPCCI Regional Office, Lahore.
He assured the office-bearers of Pakistan International Freight Forwarders Association of full cooperation in resolving the issues and said that FPCCI would raise its voice in every forum for resolving the issues of freight forwarders. Chairman of the association Mohammad Ilyas and former chairmen Mohammad Jameel and Tauqeer Malik said that the business of freight forwarders is facing a lot of losses due to the Corona outbreak.
He further said that FBR was levying 3 percent turnover tax on the entire invoice instead of services. Turnover from freight forwarders should be on their services and not on gross invoices so that The department was able to get back on its feet. He further said that instead of giving tax relief in the current difficult situation, the government was also abolishing the tax exemption already given which is an injustice to the taxpayers. He said that the future of millions of freight members was in jeopardy due to high tax rates.
