Pakistan Cotton Mill Calls For Zero Tariff On Yarn Export
Pakistan's cotton mill again demanded a 15% cancellation.
yarn
For export taxes, they appeal to the Ministry of textiles to allow export permits which have been approved by letters of credit or have received payment before May 13th, and export at zero tariff.
The spinning factory wrote to the Minister of textiles Rana Farooq Said (Rana Farooq Saeed), prompting him to convene a meeting in Karachi on May 30-31 to study the issue of export tax.
They claim that they are exempt from customs duties.
Tax regulations
(DTRE) and manufacturing bonds, cotton and yarn export taxes should not be levied.
They also called for the abolition of all taxes on value-added yarn. Now the export tax is equivalent to or higher than 3.5 US dollars / kg, and the quantity restriction should also be abolished.
At least, compared with the export tax on bath towels and fabrics, the export tax of US $3.5 / kg is quite high, and the export of bath towels and fabrics is not limited by quantity.
According to the production enterprise, the yarn is collected.
Exit
Regulatory taxes are punishing, so they refuse to accept export restrictions.
The spinning factory insisted that the government should increase the export duty on yarn within 60 days, and the order must be abolished in July 12th.
They were also informed that in the past 21 days, due to taxation, their stock totaled up to US $125 million. Therefore, they were worried that the Ministry of textiles did not seriously consider the request to abolish the export tax on yarn, and the exporters seemed to have to accept the conciliation tax.
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