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Pakistani tanners urge govt to review sales tax
26
Feb '14
The Pakistan Tanners Association (PTA) has appealed to the Government to review the sales tax (ST) regime, as the proposed hike in the ST to 17 percent would adversely affect the export-oriented leather sector of the country.
 
PTA central chairman Shaikh Saqib Saeed Masood said the Federal Board of Revenue’s plan to raise the ST to 17 percent on purchase of raw material by the all export-oriented industries of the country would negatively impact the already perturbed leather industry, reports Business Recorder.
 
Mr. Masood said there is a need to review the ST regime and include raw hides and skins in the revised edition of the Manual of Agricultural Produce Market Committee Laws of the provinces of Pakistan which includes agricultural produce like raw cotton (phutti), cotton ginned (lint), cotton waste.
 
If raw skins and hides are included in the manual then leather goods exporters from the country might be able to avail exemption from the ST and can propel their exports, he added.
 
The PTA chief said that leather is the second largest exporting sector of Pakistan, earning the country annual export revenue of US$ 1.14 billion, and providing jobs to one million people in the country.
 
The leather industry has tremendous growth potential and can become a $3 billion industry within the next three years if the Government extends its support towards the sector and ensures a level playing field, he added.
 
 
To connect manufacturers and suppliers with buying houses and fashion brands, Fibre2fashion.com is coming up with an online fair on Leather Skin Show 2014” scheduled in Mid March-2014.
 

Fibre2fashion News Desk - India

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