950827

PAA calls for

withdrawal of

5pc excise duty

on earnings

KARACHI: Pakistan Advertising Association (PAA) has requested the Ministry of Finance and the Central Board of Revenue (CBR) to immediately withdraw the 5 percent excise duty on the earnings of advertising agencies.

A press release issued by PAA here on Sunday said that advertising agencies are already paying 10 percent to 15 percent excise duty on 70 percent of the business placed by them on the electronic media, and this additional 5 percent excise duty would amount to double taxation.

The press release further said that the issue was taken up by PAA in its meetings with the advisor to the prime minister for finance and economic affairs and chairman CBR on July 6.

The CBR chief agreed that the duty amounted to double taxation and agreed to review it, the press release said.