LAHORE: Lahore Chamber of Commerce and Industry (LCCI) on Wednesday urged the government to resolve export-oriented industry’s issues like delay in refund claims, stuck-up duty drawback and non-implementation of PM incentive package, at the earliest.
LCCI President Malik Tahir Javaid, Senior Vice President Khawaja Khawar Rashid and Vice President Zeshan Khalil raised this demand in a meeting with exporters’ delegation led by LCCI Executive Committee Member Adeeb Iqbal Sheikh here at Lahore Chamber.
Adeeb Iqbal Sheikh informed the LCCI office-bearers said that Federal Board of Revenue (FBR) field officials were instructed by the high-ups to process and sanction expeditiously the sales tax refund claims of five major export sectors for the period from July to December 2016, but this date was later extended to October 31, 2016.
He claimed that FBR repeatedly extended the payment date from March 31, 2017, to June 30, 2017, then to September 30, 2017, and finally to October 31, 2017.
LCCI office-bearers said that Federal Board of Revenue should resolve these issues at the earliest as the delay in the release of tax refunds was causing a liquidity crunch for the exporters and manufacturers.
They said the authorities concerned should also simplify the process of getting tax refunds.
