PAKISTAN: A DECISION TO RELEASE OF TEXTILE EXPORT FROM TURNOVER TAX PAYMENTS
In Pakistan, at the federal level, it was decided to exempt from payment of tax on the turnover of the company, exporting textile products. This decision was very necessary to textile exporters have long time. Mr. Wajid Jawad (Wajid Jawad), Chairman of the Council of Textile Associations (CTA), said that this decision not only make things easier for exporters, who lose billions of rupees for payment of sales tax, but also help prevent corruption in the form of fraudulent payments illegally. Mr.
Jawad also welcomed the reduction of import duties on accessories used in factories in textile products. Chairman Towel Manufacturers Association urged the government not to build plans for the growth prospects of the cotton crop results, which may or may not achieve the same high level as expected this year. Chairman of the Subcommittee of Commerce and Industry of Karachi Muhammad Iqbal Mangrani (Muhammad Iqbal Mangrani), in turn, informed a reduction of export duties on the whole chain of production of polyester fiber that is used for blending with cotton in the production of fabrics that will significantly increase the export of textile products. #39;Import duty on polyester staple fabric, as well as the raw materials used in its production, decreased to 6.5% from the previous 20% , - he said.
Informs fibre2fashion.
