Government abolishes taxes on sugar imports – Express Urdu

The ECC had accredited the import of 300,000 metric tonnes of sugar by the Trading Corporation of Pakistan. Photo: File

Islamabad: Import of 300,000 metric tons of refined crystal white sugar (sugar) might be totally exempt from holding tax and gross sales tax.

The federal authorities has waived the holding tax and 17% gross sales tax on the import of 300,000 metric tons of sugar with the intention to overcome the sugar disaster within the nation and normalize sugar costs. The Board of Revenue (FBR) has formally issued 2 notifications.

The notifications said that the import of 300,000 metric tons of refined crystal white sugar (sugar) imported by the Trading Corporation of Pakistan can be totally exempted from holding tax and gross sales tax.

It must be famous that in view of the rise in costs as a result of sugar disaster within the nation, the ECC had lately accredited the import of 300,000 metric tons of sugar by the Trading Corporation of Pakistan. In order to enhance provide and produce costs again to regular, the FBR has issued a notification to the Trading Corporation of Pakistan to offer full exemption from gross sales tax and advance earnings tax (holding tax) on sugar imports.

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