05-17-2011, 12:01 PM
LAHORE: Poultry Association Monday urged the government to avoid implementation of 15 percent sales tax on poultry feed.
It would not only double chicken prices but also a cheap source of finest protein would go out of reach of the common man, former chairman of the Association Abdul Basit said.
In the budget proposals of poultry industry, Basit said 15 percent sales tax on poultry feed would also jack up prices of processed chicken that was already consumed less than 5 percent in Pakistan.
He said the government should make a difference between duty on grandparent poultry stock and duty on its finished goods that has been implemented at the same rate at present. He suggested there should be a complete ban on import of any item, which was being produced or could be produced locally.
Every item, which was raw material for domestic industry should be free from all types of import duties.
He said to encourage local production, higher rate of taxes and duties should be imposed on the import of finished or semi finished goods. He suggested hundred percent duties should be imposed on the import of all kinds of chicken meat frozen or processed.
The government has increased turnover tax from 0.5 percent to 1 percent, which was very high and unjustified.
It is proposed if it was not brought back to zero percent then it should be the final discharge of tax liability. Then there should be no requirement for further checking or adjusting the record of business entity. There should be no RGST on any food item and their raw materials, pharmaceutical items and their raw materials.
There should be no refund system of general sales tax (GST). It should be only 1 percent.
A major portion of Federal Board of Revenue (FBR) targets was being met through Withholding Tax collections.
Furthermore they have to maintain tax record separately. WHT agents have to bear all expenses for this entire WHT collection/deposit exercise, being done on behalf of FBR To meet these expenses incurred thereon, it was proposed that government should pay a certain percentage of WHT collection to these agents. This will encourage them to do WHT collection working more efficiently. He said there should be no probe for investment if made in industry especially in corporate sector. This will give direction to the money, which is being wasted into non-productive channels and if it is invested in the productive industrial sector it will create more jobs and more revenue for time to come.
Every business entity, engaged in any business or in any other economic activity, should be registered with any trade body or chamber, under Trade Organisation Ordinance 2007.
Government authorities should check only the membership of trade body then we would not need any controversial GST.
It would not only double chicken prices but also a cheap source of finest protein would go out of reach of the common man, former chairman of the Association Abdul Basit said.
In the budget proposals of poultry industry, Basit said 15 percent sales tax on poultry feed would also jack up prices of processed chicken that was already consumed less than 5 percent in Pakistan.
He said the government should make a difference between duty on grandparent poultry stock and duty on its finished goods that has been implemented at the same rate at present. He suggested there should be a complete ban on import of any item, which was being produced or could be produced locally.
Every item, which was raw material for domestic industry should be free from all types of import duties.
He said to encourage local production, higher rate of taxes and duties should be imposed on the import of finished or semi finished goods. He suggested hundred percent duties should be imposed on the import of all kinds of chicken meat frozen or processed.
The government has increased turnover tax from 0.5 percent to 1 percent, which was very high and unjustified.
It is proposed if it was not brought back to zero percent then it should be the final discharge of tax liability. Then there should be no requirement for further checking or adjusting the record of business entity. There should be no RGST on any food item and their raw materials, pharmaceutical items and their raw materials.
There should be no refund system of general sales tax (GST). It should be only 1 percent.
A major portion of Federal Board of Revenue (FBR) targets was being met through Withholding Tax collections.
Furthermore they have to maintain tax record separately. WHT agents have to bear all expenses for this entire WHT collection/deposit exercise, being done on behalf of FBR To meet these expenses incurred thereon, it was proposed that government should pay a certain percentage of WHT collection to these agents. This will encourage them to do WHT collection working more efficiently. He said there should be no probe for investment if made in industry especially in corporate sector. This will give direction to the money, which is being wasted into non-productive channels and if it is invested in the productive industrial sector it will create more jobs and more revenue for time to come.
Every business entity, engaged in any business or in any other economic activity, should be registered with any trade body or chamber, under Trade Organisation Ordinance 2007.
Government authorities should check only the membership of trade body then we would not need any controversial GST.