ECC refers back duty, tax exemption on gas infrastructure development projects


ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has referred back the issue of duty and tax exemption on Gas Infrastructure Development Projects of Large Diameter Pipeline for discussion among the finance division, Federal Board of Revenue (FBR) and petroleum division.
Prime Minister Shahid Khaqan Abbasi chaired meeting of Economic Coordination Committee of the Cabinet at PM Office on Monday. He directed the authorities to sort out issues and brought before the ECC in next meeting.
On removal of anomalies and mismatch in withholding income tax and input / output Sales Tax on LNG / RLNG Transactions, it was decided that the stakeholders would further deliberate the issue and come up with the workable solutions including the proposal for legislation if required.
The meeting also approved additional agenda item regarding Provision of Guarantee for Issuance of letter of Credits by Pakistan LNG Limited (PLL) up to $150 million in favour of LNG suppliers.