PHMA REQUEST FOR RELEASE OF OLD DEFERRED SALES TAX REFUND & INCOME TAX REFUND CLAIMS AND RESTORATION OF RATING OF SALES TAX – NO PAYMENT NO REFUND REGIME | CustomNews.pk

PHMA REQUEST FOR RELEASE OF OLD DEFERRED SALES TAX REFUND & INCOME TAX REFUND CLAIMS AND RESTORATION OF RATING OF SALES TAX – NO PAYMENT NO REFUND REGIME

Pakistan Hosiery Manufacturers & Exporters Association profoundly appreciates the government's initiative to expedite refunds to exporters under FASTER system. However, in order to ease and facilitate exporters liquidity problems in this most difficult times, PHMA also requests for release of old deferred sales tax refund & income tax refund claims of textile exporters. This was stated by Central Chairman Pakistan Hosiery Manufacturers & Exporters Association Chaudhry Salamat Ali. Chaudhry Salamat Ali has lauded the timely intervention of the Prime Minister of Pakistan Imran Khan to rescue the export-oriented industries which reached on the brink of closure in the wake of global corona pandemic. Due to complete lockdown for over one month, the export industries have started operation after verification of export order by TDAP and grant permission by the respective provincial governments. Members have approached the Association stating their difficulty that their supply chain has been disrupted and their orders cannot be completely unless their vendors / allied industry is also allowed to operate. Therefore, PHMA requests the Government to also allow allied industries to operate during lockdown to provide our export industry relevant materials and supplies enabling them to complete our export orders. In this connection, the allied industry is willing to fulfil all procedural requirement, compliance of SOPs and provision of Undertaking in this regard. Salamat Ali added that in order to provide permanent relief to exporters against their hardships of exporters in terms of liquidity due to imposition of 17% sales tax. The Government must consider restoration of Zero-Rating of sales tax - no payment no refund regime and SRO 1125 must be revived in true spirit.
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