Karachi, June 16, 2016 (PPI-OT): Chairman Indenters Association of Pakistan (IAOP) Mr.KhurramSayed and IP Chairman Mr. Saquib Fayyaz Magoon said Indentors are bitterly disappointed that, Sindh Govt did not removed service tax from indentors in Provincial budget 2016-17.
In Budget Anomalies, they point out that, Instead to Encourage Indenters like other export Oriented Sectors , Sindh Govt imposed injustice service tax on Indenters Since last year, Indentors Get Quantity discount from foreign suppliers and Safe Foreign Exchange and then get back this amount as a commission in foreign exchange . So its our demand that, Indentor should be in Tax free regime, like other exporters and omit them from domain of Provincial Govt .“We request to Chief Minister of Sindh Mr. Qaim Ali Shah to give Appointment formeeting enable us to clear our Point of view that, Indentors should not be in regime of Service tax, as they are Exporter of services to their foreign Principals and in return they Get Commission in shape of precious Foreign Exchange for our country” They Added
Mr.KhurramSayed and Mr. Saquib Fayyaz Magoon Said that, After our Several Meetings with SRB in good atmosphere with positive notes , We were expecting that, in this provincial budget 2016-17 service tax would be removed from Indentors , but we wondered that, Sindh Govt kept old status regarding service tax on Indentors.
They further said mostly indentors deals in basic raw material of Industries and they are source of quality goods supplying to manufacturing and Export sector to ensure smooth production of industries .
They requested to Chief Minister of Sindh, Provincial Finance Minister and Chairman SRB to consider their One point demand and exempted Indentors services from Service Tax.
For more information, contact:
Indentor Association of Pakistan
Head Office 8/8, Rimpa Plaza, M. A. Jinnah Road, Karachi