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Govt urged to shelve VAT for one year
ISLAMABAD: Member of the National Assembly’s Standing Committee on Finance, Kashmala Tariq, Friday called for shelving the imposition of value added tax (VAT) for one year.
She also received the support of PML-N MNA Shahid Khaqan Abbassi, who also advised the government against making a haste on the decision, which he felt may affect a common man.
Meanwhile, the FBR officials failed to convince the members of finance committee on the imposition of VAT. They told the committee that sales tax would end following the enforcement of VAT while all excise duties would also be merged in it (VAT).
Chairman FBR Suhail Ahmed said that the center would collect taxes on air, rail and sea travels. He said the government would collect additional Rs55 to Rs70 billion through VAT.
Courtesy www.Geo.tv