LAHORE: The under invoicing is not choice but compulsion for traders as they have to compete with smuggled goods in local markets.
Former LCCI vice president Kashif Anwar told Customs Today that the traders wanted to pay duties but competing with smuggled goods is hard for them. He added why anybody should pay taxes when goods are delivered at your door steps by forwarders.
He explained that under-valued or mis-declared goods do not increase the profit margin of a trader rather many traders are importing the same product at the same time so they are competing with each other for market share.
He said that only profit increase if they have monopoly in the product and under invoicing will not stop until smuggling stops.
He suggested that the government should stop the smuggled goods at borders of the country, provinces and cities doing away with the raids in the markets.
