Miftah Ismail agrees to bring furniture retailers under fixed tax regime
ISLAMABAD ( Web News )
A delegation of Pakistan Furniture Association led by Muhammad Shakeel Munir, President, Islamabad Chamber of Commerce & Industry held a meeting with Miftah Ismail, Federal Minister for Finance & Revenue and briefed him about the difficulties being faced by the furniture retailers due to their placement in Tier-1 category for sales tax collection.
Zahid Hussain Chairman All Pakistan Furniture Association, Patron in Chief Mian Muhammad Afzaal from Lahore, Rana Waheed Murad Senior Vice Chairman from Karachi, Safdar Rasheed Vice Chairman from Sahinwal, M .Taaj Abbasi President from Rawalpindi, Danish Naeem Fakhri Senior Vice President from Chiniot, Riaz Mughal Vice President from Lahore, Irfanullah Khalil General Secretary from Peshawar, Qahir Khan Vice President from Queta, Irfaan Kamboh Joint Secretary from Lahore, Vice President Sheikh Muddasir from Chiniot, Joint Secretary Chiniot Kamran Madal, Joint Secretary Said Muhammad Khan Mardan, Faisal But Information Secretary, Zubair Hafeez Vice President Sukkar, Jafar Hussain President Punjab, Mirza Mukhtar General Secretary Punjab, Raja Javed Senior Vice President Punjab, Sardar Saqib President Rawalpindi, Aamir Raza Sheikh President Islamabad, Sabir Awan General Secretary Islamabad, Umar Sami President Chakwal, Sajad Hussain President Talagang, Sardar Ashfaq President Abbotabad, Suleyman Mughal President Sargodha, Javed Elahi President Karachi, Feroz Shah President Peshawar and others were in the delegation.
Muhammad Shakeel Munir informed the Federal Finance Minister that the furniture industry has great potential to grow and boost exports of the country but placing furniture retailers in Tier-1 category for sales tax collection has created lot of difficulties for this sector that would affect its business activities. He strongly pleaded the case of furniture retailers for bringing them under fixed tax regime so that they could pay their sales tax through their electricity bills at the rate specified in the finance bill while the income tax collection should be continued at the prevailing rate.
Zahid Hussain, Chairman All Pakistan Furniture Association said that a fixed tax regime for furniture retailers will increase the tax revenue for the country and reduce the issues of furniture retailers. He further requested that furniture retailers who are registered on the basis of area should be de-registered for tax purposes and subjected to fixed tax regime.
After listening to the issues of furniture retailers, Miftah Ismail, Federal Minister for Finance agreed to bring the furniture retailers in the fixed tax regime to save them from unnecessary problems and for this purpose, a new SRO would be issued soon. He further said that the government would give due consideration to all genuine tax problems of the business community to promote ease of doing business for them so that they could play a more effective role in the economic development of the country.