SMEs Hope Revamping of Tax System

Mr Mashood Ali Khan, Director Exports Mehran Commercial Enterprizes (member PAeC) attended the meeting headed by Federal Minister Makhdoom Khusro Bakhtiar for upcoming budget preparation for SMEs where he discussed some key points for improvement of SME business.

Later on, talking to the media personnel, Mashood Ali Khan said that he wished and hoped these distinct efforts unfold a bright future towards the growth of Automotive Sector of Pakistan.  “I am Hopeful that the Federal Minister will give priority to SMEs in the upcoming budget”, said Mashood Ali Khan. Withholding tax on raw material at the import stage and semi-finished parts was 4%, while on sales it was collected at the rate of 5.5%, he pointed out.  “About 9.5% of the industrialist funds are stuck with the government on every transaction, which is even higher than the expected profit on that transaction האתר שלי.  And the government refund takes two to three years. It should be reduced to 1% and refunded online”, Mashood Ali Khan proposed.

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