Floss Mills Homeowners’ Protest Brings Coloration, Key Rationalization on FBR Gross sales Tax

KARACHI: The Federal Board of Income (FBR) has issued an vital clarification relating to the gross sales tax to be levied on flour mills.

In accordance with ARY Information, the FBR determined to withdraw the 17% gross sales tax levied on wheat bran and re-issued clarifications relating to FMCG and move mills.

In accordance with an FBR spokesperson, the Finance Invoice 2021 has facilitated flour mills and refinery retailers, and the minimal tax fee has been modified primarily based on the overall turnover.

Spokesperson FBR Finance Invoice will probably be corrected by amending the error, the minimal tax relevant to flour mills will probably be 0.25% of the turnover, 1.25% gross sales tax on turnover is being misrepresented.

learn extra: The Flour Mills Association went on strike

Additionally learn: Flour shortage feared, flour mills announced to close

The FBR mentioned the federal government had determined to impose a 17 per cent tax on wheat bran, which is now being withdrawn. It could be recalled that the house owners of flour mills had introduced a nationwide strike on June 24 in opposition to the imposition of 17% gross sales tax.

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