Cot­ton gin­ners’ prob­lems re­solved

The Pak Banker - - 2national -

IS­LAM­ABAD: Fed­eral Tax Om­buds­man has fi­nally re­solved the long­stand­ing is­sue re­gard­ing tax credit griev­ances con­fronting the Pak­istan Cot­ton Gin­ners' As­so­ci­a­tion.

On the in­ter­ven­tion of Fed­eral Tax Om­buds­man, the Chief Com­mis­sioner, Re­gional Tax Of­fice, Mul­tan, held a meet­ing with PCGA in or­der to re­solve the long­stand­ing griev­ance of Cot­ton Gin­ners, asked them to pro­vide de­tails of both their sup­plies and the tax with­held by the mills.

In a let­ter writ­ten to the FTO Of­fice, the Chief Com­mis­sioner, RTO, Mul­tan, while con­vey­ing progress of the case, has con­firmed that the Depart­ment would take prompt ac­tion as soon as the de­tails along with sup­port­ing ev­i­dence would be made avail­able by the PCGA.

The PCGA has also con­veyed sat­is­fac­tion on the out­come of the meet­ing, and thanked Fed­eral Tax Om­buds­man for get­ting their long­stand­ing prob­lem re­solved. The Fed­eral Tax Om­buds­man has di­rected the FTO Of­fice to monitor fur­ther progress of the case on fort­nightly ba­sis.

Pak­istan Cot­ton Gin­ners' As­so­ci­a­tion ( PCGA) re­cently com­plained to the Fed­eral Tax Om­buds­man to re­dress at least 20 years old griev­ances of the as­so­ci­a­tion. Ac­cord­ing to PCGA, while tax from Cot­ton Gin­ners had been de­ducted by the tex­tile mills, no tax credit was al­lowed to them. In­come Tax Depart­ment states the rea­son for not al­low­ing tax credit was that tax de­ducted by tex­tile mills was not be­ing de­posited in the In­come Tax ac­count. The depart­ment was is­su­ing notices to the Gin­ners' for de­fault of tax pay­ment, which ac­cord­ing to PCGA was ar­bi­trary and un­just. The Gin­ners' As­so­ci­ated said the tax de­ducted should be re­cov­ered from the mills, whereas the Depart­ment in­stead was en­forc­ing re­cov­ery of tax from the Gin­ners. The prob­lem had fur­ther ex­ac­er­bated as 134 tex­tile mills out of a to­tal 379 had closed their busi­ness per­ma­nently dur­ing pe­riod 1980 to 2008. -App

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