LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) on Friday welcomed FBR decision to withdraw Capacity Tax on two beverage companies.
LCCI President Engineer Sohail Lashari in a statement said that the FBR decision would enable the small and medium players in the beverage industry to continue their businesses as the capacity tax was hitting hard the low-profile international and local brands.
The FBR is expected to take away the new tax regime of 'capacity tax' before January, 2014 by rescinding rules relating to the capacity tax.
He said that following rescinding the Capacity Tax Rules, the FBR will restore old sales tax and FED collection mechanism for the beverage manufacturers to check shortfall in the said sector.
`It is recommended that before imposition of any such tax, the government should seek recommendation and input from all of the stakeholders of that industry', he added.
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