Pakistan Implements Sales Tax Exemption Scheme For Textile And Leather Industry
The Pakistan authorities have resumed the export sales of 5 industries, including the general sales tax, such as textiles and leather industries.
duty-free
Scheme.
The Federal Board of Revenue issued a notice recently, announcing the cancellation of 5% of the general Board.
Sales tax
(General Sales Tax, GST), and resumed 4-6% GST for raw materials and accessories supplied by unregistered textile and leather exporters.
According to the plan, the production of cotton or rayon in Pakistan will not be required to pay GST for the products it produces.
Measures
It also applies to the leather industry's overall supply chain, including imports and supplies for domestic use, except for leather products that are sold in China.
The tax exemption requirement will apply only to textiles and leather products registered by importers, traders, manufacturers and exporters of the sales tax department of the Palestinian countries.
MI Khurram, member of the Pakistan Textile Mills Association (APTMA) Executive Committee and Comfort Knitwear owner, said the new GST adjustment plan still has some unusual problems that need to be solved immediately.
The government of Pakistan is actively promoting its textile and clothing export volume to reach US $25 billion by 2015.
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