You are currently viewing Tarin assures NA body to remove anomalies in Budget 2021-22

Tarin assures NA body to remove anomalies in Budget 2021-22

ISLAMABAD: Minister for Finance Shaukat Tarin Thursday assured to remove all the anomalies raised by the National Assembly Standing Committee on Finance and Revenue in the budget 2021-22, especially pertaining to the business community.
The meeting of the committee was held under the chairmanship of Member of the National Assembly Faiz Ullah here at the Parliament House.
The minister briefed the committee in detail about the dialogues with International Monetary Fund (IMF) on which the committee expressed its satisfaction.
The committee directed Federal Board of Revenue (FBR) to remove the definition of online market place Section 2 (18-A), the deemed retailer clause within the tier -1 retailer condition Section (43-AF) and the charge-ability of sales tax proposal on online market places under Section (3-3C) considered.
The committee directed the FBR to remove the proposed withholding tax on un-registered sellers selling on online market places.
In addition, the committee observed that the FBR work with online market places to increase the documentation of un-registered market place sellers.
The committee further recommended that this may be reconsidered in future.
The committee also directed Ministry of Commerce and National Tariff Commission to discus and take all possible measures to remove anomalies in duty structure of tariff concerning Pakistan Custom Tariff Codes 4411.9200, 4411.9310, 4411.9390 and 4411.9400) being intermediary in nature as presented by the stakeholders and recommend that same may be substituted to 11% so that level playing field in the business was provided to all the stakeholders.
The committee directed the FBR chairman and member (IR-Policy) to have a meeting today i.e. 24th June, 2021, with the stakeholders from ginning and agriculture sectors regarding tax imposition on agriculture implements and the representatives of Online Market Place.
The meeting was attended by Dr Aisha Ghous Pasha, Faheem Khan, Qaiser Ahamed Sheikh, Ali Pervaiz, Dr Rameesh Kumar Vankwani, Ahsan Iqbal, Sadakat Ali Khan Abbasi, Jamil Ahmed Khan MNAs and Minister for Finance and Revenue besides the senior officers from finance and revenue ministry and FBR.

Newspakistan.tv | YouTube Channel

Tags: , , , , ,

M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.