| GEO Business|
| FBR begins drive to take traders in confidence over VAT|
| Updated at: 1208 PST, Sunday, March 07, 2010|
KARACHI: Chairman Federal Board of Revenue (FBR) Sohail Ahmed said the Value-Added Tax (VAT) would be imposed only after the approval by the Parliament and National Assembly and after removing the reservations of traders, Geo News reported Sunday.
The FBR chief briefed in detail the traders of Federal B Area Association about the VAT. Earlier, the FBR spokesman and other officials gave elaborate briefing at the SITE office on the VAT.
Sohail said the Parliament has been informed that if they want to enhance the revenues and free the country of the foreign debts, then the only solution is the imposition of the VAT.
He said the VAT is a major means to augment the tax ratio in GDP.
The Board chairman said the a committee with Asrar Rauf as its head has been constituted which would see about settling the traders’ problems.