KARACHI: The Federal Board of Revenue (FBR), while following the directives of the federal government, has decided to keep “zero rated” sales tax (ST) on five major sectors, including electricity, textile, gas, raw material and fertilizers, it is learnt here.
Sources informed Customs Today that a notification in this regard will be issued in a week after which the exemption of “zero-rated” on those sectors would be effected.
The sources said that the notification which is to be issued in upcoming days contains that the “sales tax on five sectors, including electricity, textile, gas, raw material and fertilizers would be “zero-rated” from July 2016.
Responding to a query, the sources further said that the federal government has also decided to release Rs6billion for boosting and up gradation of the export sector in the country.
The sources further informed that the federal government has also asked the authorities concerned of FBR to settle the rebate issue of the exporters early so that the export sector could be revamped.
