LCCI

FBR clarifies on treatment of closing stock
Business & Finance

FBR clarifies on treatment of closing stock

  • LCCI stated that in the case of importers, tax collected at the import stage during TY-19 had become final tax at the time of collection, therefore the income from the disposal of such closing stock shouldn't be included in taxable income for the TY-20 as it would result in double taxation.
Published 23 Dec, 2020 12:01pm