Millat Tractor temporarily shuts down its production plant over tax refund issues
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Amid tax refund issues, Millat Tractor Limited has temporarily shut down its production plant in Pakistan, reported 24NewsHD TV channel.
Millat Tractor Limited in a letter to Pakistan Stock Exchange said that due to non-receipt of tax refund money, the company was facing continuous losses. The company further told PSC that government has imposed 10 percent GST on manufacture of tractors. While company was paying 18 percent GST on parts used in tractors.
The company said that government was not refunding the tax adjustment after submission of additional taxes to the government.
Reporter: Ashraf Khan