Senate
question hour: ‘Govt waived Rs360b in taxes, duties in 5 years’
ISLAMABAD: The
government waived taxes and duties worth Rs.360 billion to various entities in
the last five years through official orders, State Minister for Finance, Saleem
Mandviwalla informed the Senate on Tuesday.
The
Statutory Regulatory Orders (SROs), official paperwork without which the
bureaucratic machinery does not move, were issued to accommodate the waivers
and by-pass existing laws that could not be changed overnight, Mandviwalla
said, replying to a question posed by Pakistan Muslim League-N Senator Nuzhat
Sadiq.
During
its tenure the government waived around Rs.298.1 billion worth of inland
revenues, including income tax and sales tax, and Rs.61.3 billion worth of
customs duties.
The
SROs on tax collection from export-oriented sectors, including textile, could
not be changed under the existing circumstances. “The exporting sectors enjoy a
zero-rate tax to provide them a competitive edge in the international market
and help them earn foreign exchange for the country,” Mandviwalla said.
[The
Express Tribune, January 30, 2013]
No comments:
Post a Comment