KCCI Urges Sales Tax Exemption for Gold Imports to Boost Export Competitiveness

• KCCI is seeking a sales tax exemption on the import of gold for export purposes
• Currently, gold imports are not exempted from sales tax under the Sales Tax Act
• The lack of exemption has caused operational challenges for the export sector
• KCCI proposes amending the Sales Tax Act to include PCT 99.29 in the Sixth Schedule for exemption
• They also recommend a corresponding entry in the Customs Tariff Act for consistency
• These changes are crucial for the sustainability and growth of Pakistan’s export sector
• The aim is to remove the sales tax burden on imported gold to boost economic performance and foreign exchange earnings.

Source: pkrevenue.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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