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90,000 Jobs in MRO Industry Lost Due to High Taxes
January 21, 2019
As many as 90,000 direct jobs have been lost to markets in Singapore, Thailand, Sri Lanka, etc. due to lop-sided tax policies, MRO Industry said.
The maintenance, repair, and overhaul (MRO) services industry has urged the government to lower the GST rate on MRO services from the current 18% to 5%. It also said that the entire industry may shut down if the issues aren’t resolved soon.
MRO industry released an official statement recently in which it said that 90% of MRO requirements are now met from other markets which have led to the loss of 90,000 jobs.
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