"The implications are wide ranging and could enable the sales of cold take-away food to be zero rated
for VAT purposes when supplied from retail outlets located in office blocks, factory premises and sports venues," said Steven Sim-monds, director of VAT services.
However, the bureaucracy, as expected, is not allowing the new connections of these zero rated
sectors to avail the benefits of this aggressive government policy to enhance exports at war footing and becoming a hurdle instead of a facilitator in promoting exports.
He said that applying this regime to the Zero Rated
Textile Sector would again create hassles for the already burdened exporters and it would be an exercise in futility.
The SCCI President said the zero rated
sales tax policy announced by the federal government for the five zero rated
exports sectors would help to boom these sectors.
SIALKOT -- -Sialkot Chamber of Commerce and Industry (SCCI) and Pakistan Ready-made Garments Manufacturers and Exporters Association (PRGMEA) have warmly welcomed the zero rated
sales tax policy for country's five export sectors.
The President said that zero rated
facility for five sectors was a good step and would help enhance exports of the country.
FAISALABAD -- Pakistan Textile Exporters Association (PTEA) have demanded zero rated
sales tax facility, saying it will help restore the competitive edge in international markets for Pakistani textiles and increase exports and strengthen national economy.
They called for zero rated
on the pattern of no tax-no
He said that five export oriented sectors have been declared zero rated
which is a big breakthrough for the industrial sector.
Shahnaz Wazir Ali in the chair to discuss issues related to taxation of zero rated
sectors and RGST.
APTMA is not against the imposition of RGST for collection of revenue but it is suggesting a mechanism where intermediary process from cotton to finished fabric may be zero rated
. Accordingly, the finished fabric and garments export should be zero rated
and local sale may be charged 15% RGST.
ISLAMABAD, December 07, 2010 (Frontier Star): The National Assembly Standing Committee on Finance and Revenue has recommended on Tuesday that exports of all the five zero rated
sectors (Textile, leather, carpets, surgical goods and sports) should remain zero-rated whereas the domestic sales need to be taxed.