ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin has directed the Chairman Federal Board of Revenue to take possible steps for the settlement of sales tax issues of the pharmaceutical industry.
The Finance minister on Tuesday held a meeting with a delegation of Pakistan Pharmaceuticals Association headed by its chairman Qazi Manzoor at the Finance Division. Chairman FBR and senior officers from FBR and Finance Division attended the meeting.
In the follow-up meeting, Chairman PPMA thanked the Finance Minister for addressing the problems being faced by the Pharmaceutical manufacturers and further apprised the chair of the pending issues related to refund of sales tax on APIs.
Finance Minister Shaukat Tarin said that the government is fully committed to address the issues of the Pharmaceutical industry and provide maximum support to them. He listened to their issues keenly and assured them to resolve their issues.
The Finance Minister further directed Chairman FBR to take possible steps for the settlement of the issues of the pharmaceutical industry related to Sales Tax on APIs in coordination with the representatives of the Pharma Industry.
The Chairman FBR also briefed the meeting on the steps being taken by the FBR for the resolution of the key issues being faced by the Pharma Industry and mechanism to settle the remaining issue related to refund of sales tax on APIs.
The PPMA delegation thanked the Finance Minister for making efforts in addressing the issues of the industry.
