Textile Mills Association for adjusting super tax liability against pending refunds

All Pakistan Textile Mills Association (APTMA) has urged the FBR to adjust the Super Tax liability following the recent decision of the Federal Constitutional Court against outstanding Sales Tax, Income Tax and other refunds pending for payment by the government to manufacturers and exporters for years. APTMA Chairman Kamran Arshad said that the industry, especially the export-oriented textile industry, has been facing serious liquidity issues since the last several months due to a slowdown in export orders and an overall poor business environment and are not in a position to make massive tax payments in one go. He further said that the payment of super tax in one tranche would not only disturb the day-to-day business activities of the ailing textile industry but also lead to overall deterioration of the national economy.