Home / Knowledge / News / Leather sector urges Govt to ignore VAT
Leather sector urges Govt to ignore VAT
27
May '10
The Pakistan Tanners Association (PTA) and the Lahore Hide Market Association has appealed the government, to keep leather sector away from the influence of Value Added Tax (VAT), after reviewing its impact on leather at various stages of industrial supply chain.

In this regard, Shaikh Muhammad Naim, Chairman, PTA Northern Zone said that, the value-addition chain of leather, breaks at certain levels hence, the effect of VAT cannot be transferred to the subsequent consumer.

Imposition of 15 percent tax at each level of value-addition, would of course amplify the working capital requirements, which would threaten the businesses of small and medium exporters.

This would subsequently increase the business cost by 70 percent, resulting into destruction of the leather industry, said Naim, according to whom, VAT would take its toll on the competitiveness of leather exports.

Both the associations have urged the government to stop seeking financial assistance from IMF and the World Bank, and prop up country's export-oriented sectors.

Fibre2Fashion News Desk - India

Must ReadView All

Textiles | On 21st Feb 2017

Net profit at Indorama Ventures zooms 145% in 2016

Net profit at Thailand headquartered and Aloke Lohia led Indorama...

Information Technology | On 21st Feb 2017

ThreadSol launches IntelloBuy & IntelloCut in Vietnam

ThreadSol, the pioneer of enterprise material management for sewn...

Textiles | On 21st Feb 2017

GST to reduce documentation for logistics firms: CBRE

The Goods and Services Tax (GST) is likely to result in a reduction...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search