KARACHI: The Inland Revenue Wing of the Federal Board of Revenue (FBR) has granted sales tax zero-rating on supply of gas and electricity to several industrial units, a statement said on Saturday.
Sales tax zero-rating is allowed to the registered manufactures and exporters of five leading sectors, including textiles, leather, carpets, surgical and sports goods with a view to facilitate exports, it said.
However, there is a strict criterion for the grant of these exemptions in view of the massive misuse of the concessions by several dummy industrial units.
The board has advised the gas and electricity companies to stop charging sales tax on the use of gas and electricity of SAS Tex Export Pvt Ltd, Noor Processing, Spun Yarn Research and Development Company and Chiniot Fabrics.
Walmart on Gateway Boulevard West in El Paso.— Google MapsNow that US interest rates seem to have stabilised, there...
Boats float on the river Nile in Cairo, April 30, 2013. — ReutersCAIRO: Egypt appears on track to break with past...
A man selling vegetables waits for customers at his makeshift stall at Empress Market in Karachi. — ReutersLAHORE:...
A woman shops in a wet market in Kuala Lumpur, Malaysia, February 18, 2016. — REUTERSKUALA LUMPUR: Malaysia's...
The Pakistan Business Forum logo. — Facebook/pbf.limitedISLAMABAD: The Pakistan Business Forum on Saturday called...
US dollar banknotes are seen in this illustration taken March 10, 2023. — REUTERSKARACHI: The government plans to...
