Home / Knowledge / News / Textiles / PCGA protests withholding tax, halts buying of seed-cotton
PCGA protests withholding tax, halts buying of seed-cotton
08
Aug '11
Protesting against the imposition of 3.5 percent withholding tax (WHT) on agents, the Pakistan Cotton Ginners Association (PCGA) has stopped purchasing seed-cotton (phutti) from Saturday.

Officiating a general body meeting, PCGA Chairman Masood A Majeed stated that in spite of the Government's statement that it has not levied any tax on the farmers, the fact is otherwise.

According to Mr. Majeed, the levy of withholding tax on middlemen and agents is indirectly a tax on the farmers, as the middlemen or agents are not going to bear this tax themselves but would pass on the same to farmers.

He said that the cotton ginners in Pakistan have launched a protest against such tax imposition, as it is not possible for ginners to pass on the tax burden to agents nor is it possible for them to deposit the amount in banks on a daily basis.

He further said that the country has harvested plentiful crop after two decades and the gains so reaped should reach all stakeholders, especially farmers.

He said that the PCGA disapproves the often changing tax strategies and urged the Government to evolve a tax policy which would be effective for a minimum of five years.

The PCGA Chairman stated that it is the business right of the ginners to decline to accept or buy phutti, which may prove troublesome for them. By their act, the ginners are conveying their complaint against the Government's unfair decision, he added.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: European Commission/European Union

Textiles | On 26th May 2018

EU set to negotiate FTAs with Australia & New Zealand

The European Union is all set to begin negotiations for free trade...

US bans import of cotton goods from Turkmenistan

Textiles | On 26th May 2018

US bans import of cotton goods from Turkmenistan

The US Customs and Border Protection (CBP) has issued a Withhold...

FPCCI prepares report on Pakistan's export issues

Textiles | On 26th May 2018

FPCCI prepares report on Pakistan's export issues

Federation of Pakistan Chambers of Commerce and Industry (FPCCI)’s...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Urs Stalder
Sanitized AG

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search