PAKISTAN TEXTILE EXPORTS TO SUFFER DUE TO NEW TAX REGIME
March 1st, 2013
The Pakistan Textile Exporters Association (PTEA) has lambasted its government’s new tax regime, saying it will “adversely affect” the country’s textile exporters, who are already reeling from a series of damaging power cuts. On February 28, the Pakistan government increased a withholding tax on imports of inputs from 1% to 5%. Meanwhile, it brought the zero-rated exports sector into the sales tax net at a rate of 2%, abolishing the previous zero tax regime, said Tariq Tayyab, deputy secretary of the PTEA.These changes come at a time when the industry ...
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