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PYMA asks to extend ST deadline


PYMA asks to extend ST deadline
Business
May 5, 2021
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Pakistan Yarn Merchants Association (PYMA) have asked the Federal Board of Revenue (FBR) chairman to extend the deadline for filing sales tax returns till May 31, 2021, a statement said on Tuesday.
They also requested the federal government to reduce the extended Eid holidays in the best economic interest of the country.
Hanif Lakhany, vice president of FPCCI and senior vice chairman of the PYMA and Farhan Ashrafi, vice chairman of PYMA and convener FPCCI’s Central Standing Committee on Yarn Trading, sought the attention of the FBR chairman, and said that due to the extended Eid-ul-Fitr holidays, the date for filing sales tax returns should be extended as it is coming up during the Eid holidays, resulting in inability of the business community to file their monthly sales tax returns. ....

Farhan Ashrafi , Hanif Lakhany , Federation Of Pakistan Chambers Commerce , Pakistan Yarn Merchants Association , Central Standing Committee On Yarn Trading , Pakistan Chambers , Federal Board , Standing Committee , Yarn Trading , பார்ன் அஷ்ராபி , கூட்டமைப்பு ஆஃப் பாக்கிஸ்தான் அறைகள் வர்த்தகம் , பாக்கிஸ்தான் நூல் வணிகர்கள் சங்கம் , மைய நின்று குழு ஆன் நூல் வர்த்தக , பாக்கிஸ்தான் அறைகள் , கூட்டாட்சியின் பலகை , நின்று குழு , நூல் வர்த்தக ,

Yarn traders urge FBR to restore turnover tax rate at 0.1pc


Daily Times
April 6, 2021
The Pakistan Yarn Merchants Association (PYMA) has demanded the Federal Board of Revenue (FBR) to withdraw 1.5 turnover tax imposed on yarn traders and restore the previous rate of 0.1 percent.
In a letter to FBR chairman on Monday, Farhan Ashrafi, PYMA Vice Chairman and Convener FPCCI’s Central Standing Committee on Yarn Trading, said that present turnover tax rate for yarn traders is very high and many traders may resort to close their factories at this high rate, as businesses are already badly affected by the coronavirus pandemic and are facing severe financial crunch.
Ashrafi said that by virtue of SRO 333 (I) 2001, dated 02.05.2011, the traders of yarn had been subject to turnover tax at concessional rate 0.1 percent, which constituted about 10pc of their margin. Provision of rate of minimum tax 0.1 percent was made under clause 45 (A) second schedule to the income tax ordinance 2001. ....

Farhan Ashrafi , Khurram Bharaa , Pakistan Yarn Merchants Association , Central Standing Committee On Yarn Trading , Federal Board , Standing Committee , Yarn Trading , Finance Act , பார்ன் அஷ்ராபி , பாக்கிஸ்தான் நூல் வணிகர்கள் சங்கம் , மைய நின்று குழு ஆன் நூல் வர்த்தக , கூட்டாட்சியின் பலகை , நின்று குழு , நூல் வர்த்தக , நிதி நாடகம் ,