ISLAMABAD (May 18 2003) : The government would soon formally announce withdrawal of general sales tax (GST) from the units operating in the Export Processing Zone (EPZ), Karachi.
The sources told Business Recorder here on Saturday that the units operating in the EPZs were exempted from payment of duties and taxes to attract maximum investment in the export sector.
However, the Central Board of Revenue (CBR) few months back levied GST on the industrial units operating in EPZ, Karachi.
The KEPZ units approached the industries and production ministry to waive off GST from the EPZ, Karachi.
The ministry took up the matter with the prime minister, who three days ago ordered withdrawal of GST from the EPZ, Karachi.
The prime minister is likely to visit Karachi on May 22 to announce a policy package for the special industrial zones. He would also announce withdrawal of GST from EPZ, Karachi.