LAHORE: All Pakistan Textile Mills Association (APTMA) Chairman Tariq Saud has demanded the government restore zero rating regime for the export of the entire textile value chain.
Talking to the media persons, he claimed that the industry would be no more cost-effective due to various taxes, asserting that the exports would remain sluggish unless the end product becomes cost effective.
Tariq Saud suggested that the government can tax the products meant for domestic consumption but export of value-added textile industry should be zero rated both for registered and unregistered buyers for the entire textile value chain.
The APTMA chairman also demanded introduction of 5 percent DLTL for the entire sub sectors of textile value chain to mitigate the incidentals of local taxes, levies and cess. He added the turnover tax on textile industry should be reduced to 0.25 percent from existing one percent.
