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National

October 10, 2010

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RGST enforcement now through parliament act

RGST enforcement now through parliament act
ISLAMABAD: The International Monetary Fund (IMF) and the World Bank (WB) have asked the government to implement the Reformed General Sales Tax (RGST) through a parliament act instead of a presidential ordinance. The approved parliament act will be of permanent status, while the presidential ordinance will be for only 120 days.
Therefore, the government has ended the plan to implement the RGST through the presidential ordinance.
Under the 18th Amendment, an ordinance will be enforced for 120 days in Pakistan and after 120 days, the president has no power to re-enforce the ordinance.
According to sources, after indications from the International Monetary Fund and the World Bank, the government is avoiding to implement the Reformed General Sales Tax enforcement ordinance after deferring the National Assembly session on Friday for an indefinite period.
The sources further said that the government would have to get the Reformed General Sales Tax bill passed from the Punjab, Sindh, Kyber-Pakhtunkhwa and Balochistan Assemblies besides the National Assembly.
It was learnt that the government would summon the National Assembly session within two or three days and would table the Reformed General Sales Tax bill in its special session and its approval would not be obtained from the Senate.
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