Textile Industrialists And Exporters In Pakistan Warn Of Double Taxation

Textile industrialists in Pakistan textile Exporters warn that if the zero tax rate of textile exports is announced, it may again bear double taxation, and if the tax rebate is not timely, the entire textile industry will become a poor industry, and the textile industry is the main employment department in the country.

Pakistan knitwear Manufacture Salamat and Ali, the former chairman of the North Branch of the exporters association, said the value-added textile industry is facing the worst time. This is due to the 170 days of gas outage in 2011, the power outage, the continuous increase in energy costs and the increase in oil and natural gas prices, while the new investment in Punjab almost ceased.

Salamat said the government declared textile exports. Zero tax rate But there is a problem in taxation and tax rebate.

The Pakistan Trade Development Council has collected 0.25% of the export development fund, but no one knows how these funds are spent and there is no clear audit report.

Salamat said that the Ministry of textile industry proposed to levy an additional 1% of the land tax on the basis of the annual export revenue, which is based on the provisions of the 2011 textile industry development promotion and standard law, which is levied from manufacturers, dealers and other related units.

The proposal of levying land tax for the textile industry means double taxation: 1% of the withholding tax on the basis of turnover and 1% of the land tax on the basis of turnover.

Salamat strongly opposed the double levy plan, called for the government to remove the barriers to textile exports on a priority basis and save the national economy from multiple crises. This is the only way to end poverty and unemployment in the country.

Salamat asked the government to immediately put aside the proposal of "industrial shutdown plan" to avoid the closure of industrial sectors and the resulting large-scale unemployment.