ISLAMABAD: Manufacturers seek more exemptions from taxes on exports in the upcoming Budget 2015-16, while on the other hand, the government and the Federal Board of Revenue (FBR) are planning to withdraw such exemptions provided to manufacturers-cum-exporters in the last budget.
As per the details, manufacturers from different sectors, including auto, textile and engineering, have submitted suggestions for the next budget to the FBR’s Export Policy Wing, while the wing has started to filter the applicable suggestion from the submitted applications.
After the finalisation of suggestions’ report, the Export Policy Wing will send the report to the FBR chairman and, subsequently, the FBR will present these suggestions before the relevant ministries to make them part of the upcoming budget.
Sources said that manufacturers have suggested many biased points that could not be accepted.
It is pertinent to mention here that the Export Policy Wing would complete the suggestions’ report by the end of the current month.