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Business

December 8, 2017

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SRB urged to review 10pc GST on security agencies

SRB urged to review 10pc GST on security agencies

KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) on Thursday advised the Sindh Revenue Board (SRB) to review 10 percent sales tax imposed on security agencies to reduce expenses of the industry, a statement said.
KCCI President Muffasar Atta Malik held a meeting with the All Pakistan Security Agency Services to discuss the problems being faced by the industry, it added. Malik said that SRB should review the unjust 10 percent GST on security services, which has been discussed earlier during the last visit of the Sindh chief minister to KCCI who directed the SRB chairman to discuss the same with the relevant stakeholders, but unfortunately, no meeting was carried out.
The Karachi Chamber of Commerce and Industry will seriously take up the matter on priority basis in order to provide some relief to the security agencies and their clients. APSAA Chairman Major Munir Ahmed (Retd) said that it was the prime responsibility of the government to ensure security to the lives and property of the citizens, but as it was not being done effectively, the business community finds no other option, but to hire private security guards, which results in additional expenses on security, whereas the unjust GST had further exacerbated the situation.
It was highly unfair to levy GST on complete invoice value instead of only charging on service, which, if done, would substantially reduce the cost, he added. Seeking the Karachi Chamber of Commerce and Industry’s support, he said that security agencies in Sindh are paying 10 percent GST, whereas 16 percent GST is applicable in Punjab, while other two provinces are also levying double digit GST, which has to be withdrawn or reduced.
The All Pakistan Security Agency Services delegation members asked the Karachi chamber to support in raising awareness about legal and illegal security agencies, particularly among members of the business community.

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