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Joint Meeting of all Trade Bodies of Sialkot held in Sialkot Chamber of Commerce and Industry

Sialkot, July 05, 2021 (PPI-OT):A Joint Meeting of all Trade Bodies of Sialkot was held in Sialkot Chamber of Commerce and Industry today to discuss the issue of levy of 5% Withholding Sales Tax on Export Companies against purchases from unregistered persons. The meeting was chaired by Mr. Qaisar Iqbal Baryar, President, Sialkot Chamber of Commerce and Industry, and attended by Ch. Ahmed Zulfiqar Hayat, Pakistan Leather Garments Manufacturers and Exporters Association, Mr. Faisal Mahboob Sheikh, Chairman, Pakistan Hosiery Manufacturers and Exporters Association, Mr. Qamar Munir, Chairman, Pakistan Gloves Manufacturers and Exporters Association, Mr. Zeeshan Tariq, Chairman, Surgical Instruments Manufacturers Association of Pakistan, Mr. Ejaz A. Khokhar, Pakistan Readymade Garments Manufacturers and Exporters Association, Ch. Raza Munir, Chairman, Sialkot Tannery Association and others.

The participants of the meeting showed serious concern on levy of 5% Withholding Sales Tax on Export Companies against purchases from unregistered persons and demanded its immediate withdrawal by the Government. Mr. Qaisar Iqbal Baryar informed that Sialkot Chamber of Commerce and Industry and All Trade Bodies of Sialkot had been demanding its abolition for the last two years but despite all assurances, no amendment had been included in the Finance Act 2021. The Chairmen of Associations emphasized that implementation of 5% Withholding Sales Tax on Export Companies would seriously hurt small and medium sized export businesses and Export Companies should be exempted by incorporating necessary amendment in Serial # 4 of the Eleventh Schedule to the Sales Tax Act, 1990.

It was resolved that if the issue of 5% Withholding Sales Tax on Export Companies would not be withdrawn, the Export Companies would be compelled to observe lock down / Zero Export Day. The participants demanded the Government to immediately withdraw the relevant provisions with retrospective effect to provide relief to the Export Companies.

For more information, contact:
Sialkot Chamber of Commerce and Industry (SCCI)
Shahrah-e-Aiwan-e-Sanat-o-Tijarat, Sialkot – 51310, Pakistan
Phone: +92-52-4261881-3
Fax: +92-52-4268835, +92-52-4267919
E-mail: [email protected]
Website: http://www.scci.com.pk

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