SIALKOT:President Sialkot Chamber of Commerce and Industry (SCCI) Abdul Ghafoor Malik called on Member (Inland Revenue – Policy) Afaq Ahmed Qureshi to discuss the issues of industry pertaining to Federal Board of Revenue (FBR).
According to SCCI, Member Inland Revenue-Policy Afaq Ahmed Qureshi has assured the President SCCI Abdul Ghafoor Malik that the exporters would be exempt from the application of Section 111 (4A) of the Income Tax Ordinance, 2001 that requires submission of Audited Accounts for businesses falling under Final Tax Regime.
President SCCI said that this was a positive development as the export sector had concerns regarding Section 111 (4A) as it is against the spirit of the Presumptive Tax Regime.