SIALKOT

The Punjab Revenue Authority (PRA) Chairman Dr Raheel Ahmed said that efforts would be made to resolve all the problems being faced by the Sialkot business community.

He said that the PRA would take the traders, industrialists and exporters into confidence in this regard. He said that the exporters played a key role in strengthening the national economy by earning foreign exchange to the tune of US$ 2 billion annually.

He stated this while addressing a meeting of Sialkot business community recently held at Sialkot Chamber of Commerce and Industry (SCCI) here.

During this meeting, Sialkot Chamber of Commerce and Industry (SCCI) President Mansur Ahmed discussed the matters of mutual interest with the visiting chairman of PRA including Sialkot exporters' problems regarding issuance of notices by Punjab Revenue Authority (PRA) for deduction and deposit of Withholding Sales Tax, withdrawal of Punjab Infrastructure Development Cess and integration of PRA and FBR systems.

The SCCI president emphasized that the component of services in the export business was minor and processing of refunds would create hassle for the Department and the businesses, hence, export businesses should be granted exemption in deduction and deposit of withholding tax.

He added that Punjab Infrastructure Development Cess should be withdrawn as exports were already adversely affected due to Sindh Infrastructure Development Cess.

It was further proposed to ensure proper integration of PRA and FBR systems to facilitate refund of sales tax on services paid to PRA.

The PRA chairman pledged to hold a meeting with a delegation of Sialkot Chamber of Commerce and Industry (SCCI) in his office at Lahore to discuss in details the matters of mutual interest. He devised a joint strategy to alleviate hardships of the Sialkot exporters on top priority.

FBR SEEKS BUDGET PROPOSALS: The Federal Board of Revenue (FBR) has sought budget proposals from the chambers of commerce of Sialkot, Gujrat and Gujranwala in a bid to take the business community into confidence regarding budget preparation.

FBR officers have already written letters to the presidents of chambers, seeking urgent budget proposals from them regarding the levy of new taxes or abolishing the persisting taxes and their satisfaction of dissatisfaction about the taxes collection system.

They said that the FBR was striving to provide maximum tax related incentives and relief to the business community, which has been playing a back bone role in strengthening the national economy.

These chambers of commerce have started preparing the budget proposals for FBR by consulting their tax advisors and the representatives of the main trade bodies.