KARACHI: Pakistan Chemists and Druggists Association (PCDA) has hailed the appointment of new chairman Federal Board of Revenue (FBR) Dr Muhammad Ashfaq Ahmed and hoped that he would make efforts to resolve the issues being faced by business community.
In a letter written by Chairman Regulatory Affiars PCDA and deputy Convener Chemist and druggist Committee FPCCI Abdul Samad Budhani to newly appointed Chairman FBR Ashfaq Ahmed, PCDA intimated him about budget anomalies related to sections 236-H and 236-G of Income Tax Ordinance, and also about their several meetings with former chairman FBR and Dr. Waqar Masood.
The PCDA requested chairman FBR to continue the process to resolve the issue of advance tax on the sale of medicine as per the direction of finance minister Shaukat Tarin.
It may be noted that a delegation of the PCDA had met Shaukat Tarin during his visit to the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and discussed with him the imposition of Section 236-G and 236-H of Income Tax Ordinance.
The delegation explained that as it is simply not possible for them to collect particulars of their buyers; therefore, this exercise had remained non-practicable in the past.
Upon which finance minister directed chairman FBR to resolve the issues of pharma distributors. He said withholding of tax is not an answer to improve the taxation in the country; in fact taxes are only collected worldwide in two major heads - income tax and general sales tax.
Copyright Business Recorder, 2021
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