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Cotton ginners demand release of tax refunds forthwith

Cotton ginners demand release of tax refunds forthwith

MULTAN: Pakistan Cotton Ginners Association has demanded that the government should direct the Federal Board of Revenue for the payment of tax refunds immediately.

Chairman Pakistan Cotton Ginners Association Haji Muhammad Akram has asked the government to release the pending refunds of cotton ginning under the head of withholding taxes in the country. He said that the Federal Board of Revenue is issuing unfair tax notices to various cotton ginners which has created discomfort among the owners of cotton factories.

He told CT that Pakistan Cotton Ginners Association has submitted its budget proposals to the government for financial year 2018-19 .Pakistan Cotton Ginners Association has also demanded that Government should exempt the cotton factories from sales tax imposed in their electricity bills. He suggested that the government should abolish the cotton standardization fee of Rs five per bale for the provision of financial relief to the cotton ginners in the country.

He said that the Federal Board of Revenue is not ready to release our pending tax refunds as cotton ginners are facing financial constraints whereas release of pending refunds is important for the betterment of our industry.