LAHORE – Pakistan Sugar Mills Association (PSMA) Chairman Javed Kayani has written a letter to the FBR chairman, proposing a fix assessable value, at a uniform rate of Rs 55 per kg, for sales tax collection. He said that this system of fixed assessable value was introduced in April 1998. However, under the recently promulgated presidential ordinance, calculation of sales tax is to be made on the floating ex-mill rate and incidence of sales tax would continue to increase. Kayani explained that the sugar rate is variable for different regions, districts and mills. Several price fluctuations, hence, leads to ambiguities for tax authorities at the time of assessment.
