Government is considering to reduce sales tax from 17pc to 12pc

Not only is smuggling a crime but selling the items that have been smuggled is also a crime, the committee agreed.

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  • The Senate’s Standing Committee has been informed that the government is considering to reduce the sales tax from 17pc to 12pc, by the Federal Board of Revenue (FBR) official this Tuesday. The FBR has added to this information by informing that the tax department would be notified soon regarding the fall in sales tax on yarn from about 10 to 5pc.
  • As per the Chain Store Association’s claim about the big retailers thinking of closing their business because of the sudden elevation in sales tax along with the raids by the government, the FBR policy member has said that not only is smuggling a crime but selling the items that have been smuggled is also a crime. He further adds that this is the core reason why the tax department is keeping a check on the goods in the big shops.
  • Political parties forcing the customs officials in Balochistan
  • On the other hand, while bringing a different agenda under discussion, the senators from different political parties have been forcing the customs officials to release what they have been considering as ‘’scrap’’ containers which have been held by the Balochistan customs. Senator Ahmed Khan told the committee that as a result, the customs officials have stopped 3 scrap containers of importers. Because of that, their work factories have been abruptly stopped.
  • Balochistan’s Chief Customs collector has also come up with the information that the majority of the importers have been importing iron bars and made them look like scrap. However, he made it clear that the iron bars do not come into the definition (legal) of scrap.
  • The Committee chairman also took notice of this and informed that this specific matter is included under the domain of the collector. This matter has been finalized as a ‘’ misdeclaration’’ by Chaudhary Zulfiqar due to which section 32 has been considered applicable.
  • The Advisor to PM on Commerce, Abdul Razak Dawood has clearly said that the government is taking measures to establish a menace free of smuggling on the issue of legal import of apple from ‘’Iran’’.
  • What are your views on this? Share with us in the comments bar below.

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