The federal government?s imposition of 32.9 percent taxes on import of solar panels in the midst of the energy crisis has resulted in marooning of 60 to 70 containers, hauling solar panels, at Karachi ports, The News has learnt.
Instead of facilitating alternate energy solutions to offset the energy crises, the Federal Budget 2014-15 announced by the PML-N government introduced taxes on this sector.
According to Finance Act 2014, the federal government has amended SRO 575 2006-07 that included items and commodities in the zero rating slab. Under the amendment of the said SRO section 35(a) the import of solar panels will now be taxed. As per the details, the solar panel importers would pay 17 percent General Sales Tax, five percent import duty, three percent tax of commercial importer, and 5.5 percent income tax on the import. Thus, their cumulative tax on import of solar panels would be 32.5 percent in just one go. Earlier, the government had given tax holiday to the sector, following the energy crisis in Pakistan.
The energy crisis has almost doubled this summer, and at the same time the government has taxed import of solar panels in month of June, as if the energy crisis has subsided.
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