Either restore zero-rating regime or suspend operation: LCCI

The Lahore Chamber of Commerce and Industry (LCCI)has urged the government to either immediately restore zero-rating regime for five export industries or suspend the operation of the decision till an effective and efficient mechanism for refund of export tax claims is put in place.
While talking to a group of leading exporters, LCCI President Almas Hyder said the withdrawal of the zero-rating regime will badly hit the country's exports, bring massive pressure on exporters, especially small and medium businesses, and widen the trade deficit at the cost of ballooning current account gap. He said at time the businesses are already affected because of the ongoing major changes in the country's legal and tax landscape and another variable in these conditions will add to the miseries of the business community.