The Chairman of the Pakistan Tanners Association (PTA), Gulzar Firoz has blasted the proposal of the Federal Board of Revenue (FBR) to impose VAT on exporters and then claim refunds at a later date.
He suggested that the present regime of not collecting sales tax as well as the proposed VAT should be continued in interest of the five key exporting sectors, particularly the leather sector, which is facing hard times.
He very categorically stated that their proposal is to avoid refund hassle as well as liquidity crunch and that the present exemption system, where they do not pay, which removes the hassles of claiming refunds, should continue.
He was particularly concerned about unscrupulous elements from the trade taking advantage by raising fake invoices and claiming VAT refunds, putting at a disadvantage the genuine exporters.
Fibre2fashion News Desk - India
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