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Tag Archives: zero-rating

Zero-rating of sales tax granted on textile machinery import

ISLAMABAD: The Federal Board of Revenue has granted zero-rating of sales tax on import of textile machinery. The FBR allowed zero-rating on textile machinery (not manufactured locally and imported by the unit registered with Ministry of Textile Industry as specified in Part IV of the Fifth Schedule to the Customs Act, 1969, subject to same conditions as specified therein)  through ... Read More »

Aptma demands zero-rating facility for machinery imports

LAHORE: The All Pakistan Textile Mills Association (Aptma) urged the caretaker government on Tuesday to immediately notify zero rating facility of sales tax on import of machinery. The request from the textile association came as 200 containers are stranded at customs ports and incurring unjust demurrages. “The facility had expired on June 30 and the machinery imported for BMR and ... Read More »

Dairy sector enjoys concessions: Bajwa insists FBR empowered to issue SROs

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Tariq Bajwa said that the government did not violate any law while issuing statutory regulatory orders (SROs), saying that the federal government had the legal authority to revise tax rates under Income Tax Ordinance 2001, Sales Tax Act, 1990 and Federal Excise Act, 2005. Talking to the media at Parliament House here, Tariq ... Read More »

Zero rating on potatoes, tomatoes & pulses to be continued: FBR

ISLAMABAD: FBR has clarified that no new taxes have been proposed to be levied on potatoes, tomatoes and medical syringes. The existing zero rating on potatoes, tomatoes other vegetables and pulses have been proposed to be continued in the Finance Bill. Similarly, existing concessions on all pharmaceutical raw materials, products/drugs have been proposed to be maintained and no new duty ... Read More »

Budget proposals: EDB for restoration of ST zero-rating on plant, machinery import

ISLAMABAD: The Engineering Development Board (EDB) has proposed restoration of sales tax zero rating on the import of plant, machinery/equipment and parts thereof to promote investment, industrialisation and acquisition of modern technology. The EBD suggested the move in its budget proposals to the FBR to substitute sales tax exemption with zero-rating on plant, machinery and equipment. According to the budget ... Read More »