Exporters should not be subjected to indirect tax

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ISLAMABAD : Former President ICCI Shahid Rasheed Butt on Wednesday said the export sector should not be subjected to indirect taxation so that they can pay full attention to boosting exports.

Refund system is wasting time and resources of the exporters which is hindering them from competing with rival countries like India and Bangladesh in the international market, he said.

The tax received from exporters is shown as income which is not easy to get back therefore the system of refunds must be abolished for good, he added.

Shahid Rasheed Butt said that there is no rationale in collecting money that is refunded and showing it as revenue amounts to deceiving oneself.

The countries that developed their economies and reduced poverty facilitated exports and improved their image but here a faulty refund system has been introduced which has become a problem for investors.