Close on the heels of positive reactions by Trade Unions on the issue of quota implementation against Chinese clothing and textile, six biggest retailers in a rare joint statement informed that Government could lose R1 billion in taxes following this step.
The retailers - Edcon, Truworths, Woolworths, Foschini, Pepkor and Mr Price stated that the loss would incur due to lower profit margins, sales reduction and reduced sales tax collection.
Retailers urged the Government to check the illegal imports and strengthen local clothing units. They said that Government was addressing the smuggling problem by targeting the genuine and ethical companies through quotas which is unfair.
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