KCCI Demands Removal of MRP Tea Valuation for Tax Collection

KCCI Demands Removal of MRP Tea Valuation for Tax Collection

| 02-Dec-2024

The Karachi Chamber of Commerce and Industry (KCCI) has urged the authorities to remove the Minimum Retail Price (MRP) regulation from the tax valuation of tea. In a statement issued on Monday, KCCI President Muhammad Jawed Bilwani expressed strong opposition to the recent decision by the Federal Board of Revenue (FBR) to set the MRP of Rs1200 per kg on the import of black tea in bulk, which is then subject to sales tax and withholding tax.

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