ISLAMABAD: PTI government mulls taking unprecedented economic decision,media report has revealed. Federal government is mulling to reduce salestax from 17pc to 12pc.
The tax department would soon issue a notification pertaining to reductionof sales tax on yarn from 10 to 5pc.
Federal Board of Revenue (FBR) official on Tuesday informed the Senate’sStanding Committee on Commerce and Industry.
Responding to the Chain Store Association’s claim that big retailers areclosing their businesses due to an increase in sales tax and governmentraids, the FBR policy member said, “Just as smuggling is a crime, the saleof smuggled items is also a crime. This is why the tax department ischecking the goods at big shops.”
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Meanwhile, discussing a separate agenda, Senators belonging to differentpolitical parties reportedly pressurised the customs’ officials to releasewhat they believe as “scrap” containers held by Balochistan Customs.
