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Zero sales tax withdrawal: Businessmen see grave implications – DAWN.com

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LAHORE: Rejecting the withdrawal of zero sales tax rating facility for different export-oriented sectors through the so-called mini-budget, businessmen have cautioned those at the helm of affairs that the step will negatively impact the national exports.
Through the mini-budget (Supplementary Finance Bill), the government has proposed to withdraw zero rating sales tax facility for exported goods without considering the far-reaching implications it will cause to the national foreign exchange earnings, says Rice Exporters Association of Pakistan chairman Ali Hussam Asghar.
In a communiqué sent to Senate chairman Sadiq Sanjrani, National Assembly Standing Committee on Finance & Revenue chairman Faizullah, Finance Minister Shaukat Tarin, Commerce Secretary Sualeh Ahmed Faruqui, Federal Board of Revenue chairman Ashfaq Ahmed, and Commerce Ministry’s Director-General Agro Kausar Zaidi, Mr Asghar says: ‘This withdrawal [sales tax input/adjustment facility] will have a devastating implication on exported goods mentioned in serial number 9 of the fifth schedule of the sales tax act, 1990.”
It seems that the proposal to omit serial number 9 of the fifth schedule has been made without considering its far-reaching implications as now only those goods will be exempted from sales tax if exported by a manufacturer, he says, pointing out that producers of agricultural products are rarely in the export business.
That means the tax exemption will stand practically withdrawn for exports of agricultural produce making the local farm products uncompetitive in the international markets, the Reap chief says.
“Rice is one of the sales tax exempt items having star export performance as during the last 5 years, the export volume of this agro-based industry remains over US $ 2 billion.
“The withdrawal of sales tax input adjustment/refund may significantly increase the cost of doing business in this sector. You may well be aware of the fact that Pakistan had cutthroat competition in this segment with regional countries, particularly India. From biryani to pulao, Pakistan and India’s shared culinary landscape is defined by basmati, distinctive long-grain rice now at the centre of the latest tussle between the bitter rivals. India has applied for an exclusive trademark that would grant it sole ownership of the basmati title in the European Union, setting off a dispute that could deal a major blow to Pakistan’s position in a vital export market.
“India is the largest rice exporter in the world, netting $6.8bn in annual earnings, with Pakistan in fourth position at $2.2bn, according to the United Nations,” Mr Asghar says in the letter. He maintains that it is quite clear that any change in the landscape of the country’s policy in the export sensitive items may backfire and hamper exports, already lagging far behind its potential. “The country is already facing a serious current account deficit and any threat to its exports may be fatal for the economy,” he warns.
“We understand, while extending this proposed amendment, the FBR and relevant authorities failed to appreciate the above-mentioned economic implications and challenges, since we have not seen any revenue impact shared by the FBR on account of this proposed amendment,” he adds, requesting that the proposed amendment should be revisited to ensure export performance and growth of this segment in the larger national interest.
Published in Dawn, January 10th, 2022
Compunode.com Pvt. Ltd. (www.compunode.com).Designed for Dawn.
Copyright © 2022, Dawn
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Realm Scans: Navigating the Uncharted Territories of Digital Discovery

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In the expansive landscape of digital exploration, there exists a realm where information becomes an adventure—Realm Scans. Beyond a mere scanning service, this digital haven is where curiosity converges with innovation, and the uncharted territories of digital discovery come to life. Join us as we embark on a journey to unravel the unique dynamics of Realm Scans, navigating through the realms where information is not just scanned but transformed into a digital odyssey.

“Digital Horizons: Exploring the Essence of Realm Scans” is not just a title; it’s an exploration into the multifaceted dimensions of a scanning service that transcends the mundane. This article is an invitation to delve into the layers of technological prowess, user-centric design, and the transformative impact that defines Realm Scans in the dynamic world of digital information.

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A standout feature is the user-centric approach that defines the Realm Scans experience. “Digital Horizons” explores how user interface design, accessibility, and intuitive navigation are seamlessly integrated to create an environment where users don’t just scan documents—they embark on a digital journey of discovery.

Realm Scans is not confined by the traditional boundaries of scanning; it is a catalyst for a digital revolution. “Digital Horizons” illustrates how Realm Scans empowers users to go beyond the expected, transforming the act of scanning into a dynamic and enriching experience that transcends conventional notions.

As we navigate through the digital horizons of Realm Scans, the article becomes a celebration of the fusion between technology and user experience. It is a recognition that in the world of digital services, there are realms where functionality meets innovation, and where information is a gateway to new digital frontiers.

“Digital Horizons: Exploring the Essence of Realm Scans” is not just an article; it’s an ode to the tech enthusiasts, the information seekers, and the digital explorers who recognize the profound impact of a scanning service that goes beyond the surface. It’s an acknowledgment that in the realms of digital discovery, Realm Scans stands as a beacon, inviting users to embrace the transformative power of information in the digital age.

As Realm Scans continues to redefine the digital scanning landscape, “Digital Horizons” invites us to appreciate the nuances of a service that transforms the ordinary into the extraordinary—an exploration where every scan is not just a document but a digital adventure waiting to be unfolded.

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