Islamabad: Adviser to Prime Minister (PM) on Commerce, Textile, Industries and Production, and Investment Razak Dawood announced on Wednesday that the the Federal Board of Revenue (FBR) will be designating a focal person to Special Economic Zones (SEZs), a news source reported. The officer will be responsible for the resolution of issues pertaining to tax incentives for investment in SEZs.
FBR Chairman Syed Shabbar Zaidi said that he would soon nominate one person dedicated to all issues arising in SEZs who would coordinate between the investors and the FBR to resolve all problems on an urgent basis.
Investors had previously raised concerns about the timely issuance of tax exemption certificates, to which the chairman responded with reassurance.
During the meeting, Dawood discussed taxation anomalies in the SEZs with delegations from Korangi Creek Industrial Park and Bin Qasim Industrial Park. These include one-time exemptions from custom duties and even a 10-year tax holiday to all companies which start commercial production by June 2020.
