FOR2022 - Round Table Session on: Retail & its Regulatory Landscape in Pakistan

Описание: 1st Future Of Retail Business Summit – FOR’2022

Round Table: Retail and its Regulatory Landscape in Pakistan

Topic of Discussion:
-Retail and wholesale trade in Pakistan is multi-faceted and each sub-sector has its own dynamics. It is estimated that 18% of GDP consists of Retail and Wholesale Trade, while Retail trade itself is estimated to be approx. 10% of GDP (SMEDA). Out of which, it is estimated that approx. 10% of the retail sector is fully documented and businesses in this segment are taxed at 20-25% in proportion to their gross revenues. Whereas the remaining 90% is only partially documented, as per industry estimates. Adoption of e-commerce is increasing quickly and represents a growing share of overall retail trade in the country.

-During the session, various taxation and regulatory challenges of the retail and e-commerce trade will be unpacked and recommendations developed through public-private sector dialogue.
The key topics for discussion are as follows:

SALES TAX
• Different regimes for ‘Tier-1’ and ‘Other than Tier- 1 Retailers’ instead of being based on goods supplied, Sales Tax Withholding on Online Marketplaces and Harmonization of Tax regimes across various jurisdictions

INCOME TAX
• Various rates and conditions for Minimum Tax on turnover, Normal tax on final income and Withholding Taxes

TAX COMPLIANCE
• Complicated POS-Integration, Gaps due to Past Tax Years, Recordkeeping and Filing Procedures, Notices and Audits

Moderator: Mr. Asif Haroon – Partner Tax Services, A. F. Ferguson & Co. (a member firm of the PwC network)

Panelists:
Mr. Shahid Baloch - CCIR LTO Karachi, Federal Board of Revenue, Government of Pakistan
Mr. Aisha H. Moriani - Senior Joint Secretary (E-Commerce), Ministry of Commerce
Mr. Ehsan Saya - Managing Director, Daraz (Alibaba Group)
Mr. Muhammad Zeeshan Merchant - President, Karachi Tax Bar Association
Mr. Rana Tariq Mehboob - Chairman, Chainstore Association of Pakistan)
Mr. Asfandyar Farrukh - Senior Vice Chariman, Chainstore Association of Pakistan






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