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Islamabad, May 09, 2018 (PPI-OT): 72nd meeting of the Standing Committee on Finance, Revenue and Economic Affairs of the National Assembly was held today i.e 9th May, 2018 in Committee Room No. 7 (4th Floor), Parliament House Islamabad, under the Chairmanship of Mr. Qaiser Ahmed Shaikh, MNA, on the following agenda:-
“To discuss the updated status on the recommendations of the Standing Committee with regard to suggestions/proposals received from different stakeholders”.
2. The Committee discussed the proposals received from different stakeholders i.e: All Pakistan Cables and Conductors Manufacturers Association and once again recommended to Federal Board of Revenue (FBR) that differential of income tax between Commercial and Industrial Importers may kindly be made as per the following:-
1. Industrial importer at import stage for raw material falling under chapter 25 to 55 will pay @ 2% WHT adjustable.
1.1. No exemption certificate will be issued to industries.
2. Commercial Importers importing raw material under Chapter 25 to 55 will pay 4% WHT as full and final.
3. Rest Regime of WHT will remain the same which is for finished product.
4. FPCCI agrees with the above proposal.
3. The Committee recommended to FBR to arrange a meeting with the stakeholders of industrial and commercial importers at the earliest. The Committee recommended that suggestions received from real estate, construction sector and Pakistan Automative Manufacturers Association (PAMA) may be forwarded to FBR for favourable consideration.
4. The meeting was attended by Mr. Saeed Ahmed Khan Manais, Rana Shamim Ahmed Khan, Mr. Isphanyar M. Bhandara, Ms. Arifa Khalid Parvez, Ms. Khalida Mansoor, Sheikh Fayyaz-ud-Din, Dr. Nafisa Shah, Syed Mustafa Mehmud, Mr. Asad Umar and Mr. Abdul Rashid Godil, MNAs, besides the senior officers from Ministry of Finance and Revenue, Federal Board of Revenue and stakeholders.
For more information, contact:
Secretary
National Assembly of Pakistan
Automation Centre,
National Assembly Secretariat,
Parliament House,
Islamabad – Pakistan
Tel: +92-51-9221082-83
Fax: +92-51-9221106
Email: assembly@na.gov.pk
Website: www.na.gov.pk