SAPPTA hails reduction of Economic Service Charge

The Spices and Allied Products Producers’ and Traders’ Association (SAPPTA) yesterday expressed satisfaction at the reduction of the Economic Service Charge (ESC) for those corporates paying concessionary taxes to 0.25 percent, as against 0.5 percent charged hitherto.

“This is a step in the right direction. The SAPPTA has been lobbying for this reduction, which existed few years back and has played a role in convincing the government for this reduction,” the industry association said in a brief media statement.