Lahore - The Federal Board of Revenue has declared that it has resolved the MRP issue faced by the industry for a long time, saying that the SRO has also been issued in this regard.
This was declared by the FBR Chairman Tariq Bajwa who in a meeting held recently with the APCMA delegation, agreed to make two zones in the country for fixation of MRP – north zone and south zone. The delegation also attended the presentation on cement sector given by LUMS at FBR House, regarding their allegation that cement sector is involved in tax evasion.
The delegation was informed by the LUMS representative that final report has been based on the last three years annual accounts of the companies up to June 2013. The delegation noted that with the change in source data, the report has become more reliable and representative as compared to earlier report. The FBR also admitted that they would rely on the final report and recommendation instead of any previous draft.
Both FBR and APCMA are on the same lines in respect of improvement in tax collection. The FBR also confirmed that they will take cement sector in confidence in order to improve the tax collection processes.