Industry groups are urging the government to immediately resolve the issue related to the imposition of value-added tax (VAT) on local purchases made by exporters. Know more:
Industry groups are urging the government to immediately resolve the issue related to the imposition of value-added tax on local purchases made by exporters.
“A solution has been promised by the end of the month which also coincides with the end of the first taxable quarter,” the export industry groups said on Tuesday. The export industry groups added that the non-imposition of tax on the purchases of exporters is not only allowed by the rules but “is more importantly critical in ensuring that the prices at which the services and goods are able to remain competitive in the international market.”
Further, in several meetings among representatives of the three export industry groups with government officials, IBPAP, CONWEP and SEIPI said there is a “strong agreement” that this is the biggest issue they are all currently facing.
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