“I know of local millers who import very high quality wheat grain from Russia and the Far East which also comes cheap. They don’t like engaging local farmers. The remission on import duty to 10 per cent will only favour these elite millers, but affect the farmers,” explained Shah. The financial services provider also took issue with Treasury’s move to exempt from VAT products from Export Processing Zone (EPZ), saying this will not kill local industries. The tax advisers also requested for proper guidelines for the tax amnesty given to those holding assets and deposits in overseas banks.

Source: Standard Digital June 10, 2016 20:37 UTC