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Iron, steel traders want sales tax reduced to 12%

They say iron and steel are essential for construction industry

SAMAA | - Posted: Apr 4, 2020 | Last Updated: 11 months ago
SAMAA |
Posted: Apr 4, 2020 | Last Updated: 11 months ago
Iron, steel traders want sales tax reduced to 12%

Photo: AFP

The All Iron Steel Merchants Association has asked the government to reduce sales tax to 12% from 17%.

It says steel and iron is necessary for all development work in the country and thousands of containers are currently stuck at the port.

The prime minister announced on Friday night a relief package for the construction industry and related sectors. As part of this, the association wants reduced taxes, said its chairman Sadiq Gogan.

He said iron and steel traders are suffering heavy losses. Gogan added that shipping companies and port authorities are earning money off the containers stuck at the port. He said 30% regular duties are being charged.

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