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FBR chairman calls for proper collection of cotton ginning sales tax

FBR chairman calls for proper collection of cotton ginning sales tax

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi directed officials concerned to ensure proper collection of sales tax on cotton ginning.

Taking to Twitter, he said: “In case of cotton ginning industry output sales tax at the rate of 10 percent is collected / paid by purchasers. Field formations, especially those in cotton growing areas, to ensure that sales tax is duly collected and accounted for. Possibility of evasion be avoided.”

Earlier, on Oct 3, Cotton Ginners Forum had pointed out a decrease in cotton crop arrivals at ginning factories in the period till October 1st.

Around four million cotton bales were arrived to the ginning factories in the previous year upto Oct 1st according to the record, the cotton arrivals in the same period this year recorded 2.9 mln bales, 1.1 bales lesser than previous year, the ginners’ forum had said.

The recorded arrivals from Sindh remained 1.7 mln bales during the period while 1.2 mln bales from Punjab, the ginners body said.