ISLAMABAD: Adviser to Prime Minister on Finance, Dr Abdul Hafez Sheikh Wednesday dispelled an impression that the government has imposed taxes on the export items in the federal budget, saying, the duties would not be imposed on exports of products.
Addressing a post-budget press conference, Hafez Sheikh flanked with Federal Minister for Planning, Development and Reform Khusro Bakhtiar, Minister for Power Omar Ayub Khan, Minister of State for Revenue Hammad Azhar, Chairman Federal Board of Revenue (FBR) Syed Shabbar Zaidi, said that the zero-rating of exports would remain intact; however the exporters who were selling their commodities in local market would be taxed.
He said that presently the exporters are selling their products inside the country worth over Rs 1200 billion but they are only contributing Rs 6 to 8 billion tax.
“This is unacceptable, they have right to do business in the country but they have to pay tax accordingly” he added. The advisor said that many measures had been announced in the budget to encourage the local industries and the exporters.
“The impression that changes had been introduced on exports sides had no reality, while the fact is that we have announced various measures for the exporters” the advisor said.
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