KARACHI: The government’s decision to levy 1 percent Value Addition Tax (VAT) on importers instead of 2 percent is being hailed by the experts in the field of economy.
They were of the view that levy of 1 percent VAT would earn billions of rupees for the national exchequer. It may be mentioned that so far there is no VAT on manufacturers.
However, the importer have to pay 2 percent VAT and to save that 2 percent they manipulate the manufacturers to import their items in manufacturers category and they were enjoying zero percent VAT benefit.
