Related Keywords: collect reduced levy on textile product, Federal Board of Revenue, five export-oriented sectors includes textile, government may double sales tax, keep the tax rate at zero, on domestic sale of textile, proposal for approval to increase sales tax, textile lobby seeking complete exemption from taxes, textile ministry fiercely opposes FBRs move
The proposal to be presented to Prime Minister Nawaz Sharif for approval to increase the sales tax on textile, leather, carpets, sports goods and surgical goods was part of the tax measures for new financial year 2016-17. Currently, domestic sales of these five export-oriented sectors are taxed at reduced rates, but the textile lobby is seeking complete exemption from taxes on the grounds that the Federal Board of Revenue (FBR) is not timely paying their tax refunds.
