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Delay in issuance of income & ST exemptions certificate creating problems for traders

Delay in issuance of income & ST exemptions certificate creating problems for traders

ISLAMABAD:  Delay of the issuance of Income and Sales Tax Exemption Certificate by the Federal Board of Revenue (FBR) is creating concerns in the business community.

Sources told Customs Today that business community from different regions has contacted Federal Board of Revenue for the early issuance of Income and Sales Tax Exemption Certificates which is causing problems for the business community. FBR has been informed in this regard, sources added.

Meanwhile, sources also added that with the imposition of federal tax on the marriage halls, the owners are facing problem as they are paying dual taxes on the marriage halls. The owners are paying tax to Punjab Revenue Authority (PRA) for the halls as well as to federal govt. Business community already showed concerns over the stoppage and delay of refunds, sources added.

It is important to mention here that earlier, before the 18th amendment, Federal Board of Revenue was the only government body to deal tax payments and the taxpayer. However, after the 18th Amendment, where revenue collection was made the provincial subject, each province came up with its revenue authority to help provincial government in managing the balance between revenue and expenditure.