The Towel Manufacturers Association of Pakistan (TMA) has complained that sales tax refunds amounting to over Rs 205 million are still pending. Muzammil Husain, Chairman, PMA in a statement to the press issued here on Saturday.
The sales tax collectorate had promised clearance of all pending cases by the end of December 2006, a large number of members of PMA are experiencing long delays in refund.
Since the end quota regime has led to cut-throat competition in the textile sector, the situation required a facilitating role from the government. Exporters should be facilitated in all possible ways in solving their problems. Currently a pressing problem confronting exporters is that of sales tax refunds, he said.
Chairman PMA said it is time that CBR should also identify measures to resolve problems confronted by the exporters in obtaining sales tax refunds. Delays in refund result in shortage of cash flow and hence affects export performance. The issue of refund should, therefore, be at the top of CBR agenda.-PR
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