All Pakistan Textile Processing Mills Association (APTPMA) has demanded that textile exporters fall under final tax regime u/s 143(b) and should be exempted from payment of WHT and be given exemption certificates.

Commenting over budget proposals 1920-21, APTPMA Chairman Muhammad Pervaiz Lala said exemption would yield benefit for export boosting and also lower workload on FBR who were busy in a futile exercise. They will also be getting more time to focus on broadening of tax base which was dire need of the time, he added.

Pervaiz Lala mentioned that that exemption would also help textile exporters in using the cash liquidity for enhancement of the exports of nation.

He demanded that CNIC condition for domestic market should be abolished, and permanent solution of that critical problem must be adopted in forthcoming budget enabling Exporters and Manufacturing Processing Units to run business activities smoothly. “Inspite of all clarification issued by the FBR and its policy we have witnessed that the problem is still there as the traders/buyers are still not ready to register themselves and until and unless they do not get them register or they are not willing to furnish the CNIC the manufactures will be in problems as we are registered and we have always been abiding by the laws and regulation of the country," he added.

Chairman, APTPMA demanded that Withholding Tax should be reduced from one percent to 0.50 percent, while Turnover Tax 1.5 percent should be reduced to 0.5 percent.

Copyright Business Recorder, 2020