Landa Bazar traders threaten to shut shops over ‘tax issue’

KARACHI: The traders of Landa Bazar have threatened to shut down their shops against the increase in taxes imposed on imported goods, ARY News reported.

Addressing a press conference in Karachi, Muhammad Usman – Secretary General of Pakistan Second Hand Clothing Merchant Association – has demanded with the government to withdraw the new taxes imposed on imported cotton cloths, threatening to shut down their shops.

The representative noted that the government has increased valuation on imported second hand clothes. “The dollar was increasing constantly and it has become difficult for people to meet their needs. In such a situation, the authorities have increased the valuation on imported items,” he regretted.

Earlier on December 23, it was reported that the government raised the tax on imported goods from Rs81 to Rs225 per kilo, forcing the sellers to raise prices of otherwise cheap clothes, blankets and other warm clothes.

People looking for cheap warm clothes in the country’s several ‘Landa Bazars’ will have to face the inflationary pressure in such markets.

The notification issued in this regard, stated that the 5 percent sales and 5 percent customs duties imposed on imported used goods, also includes 10 percent regulatory duty and 5.5 percent income tax.

After the hike in the values of taxes, the imported used items will become expensive which includes warm clothes, sweaters, blankets, coats, and shoes, moreover, children’s toys will also become more expensive.

from Latest Pakistan News Breaking News from All over Pakistan - ARY News https://ift.tt/MgQevhu

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