Recorder Report Published about 3 hours ago

KARACHI: Pakistan’s all exports associations on Tuesday criticized the federal government for its taxation plans and rejected the “Normal Tax Regime” (NTR) announced in the budget 2024-25 as “counterproductive” for the industries.

At a joint press conference, which held online simultaneously with exporters representing their respective trade associations ranging from textiles to fisheries and vegetables sectors unanimously declined to accept the controversial normal tax. Voicing deep apprehension, they said that the proposed shift of exporters from one percent turnover-based Final Tax Regime to the standard taxation of 29 percent of a taxable profit will ruin exports.