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Employees Correspondent

Mohammad Ali Khokon President of BTMA urges govt withdraw VAT on guy-produced fiber yarn on forthcoming national price range. He also mentioned now entire world small business is modifying & moving products diversification. So, we need to have to emphasis value addition with guy-designed fiber.

He addressed BTMA proposal at 41th advisory committee conference arranged by NBR & FBCCI on 18 April in on the net. He also urged the governing administration to withdraw progress Tax on importing textile machinery.
BTMA proposed some key concern to consider for upcoming Nationwide Funds:
1. To impose VAT of TK 3 /kg to all the yarn (whichever fiber it is produced of) like cotton and the 5% VAT on the material of artificial fiber at production stage have to have to be exempted.
2. To ascertain Tax at Resource of .25% to really encourage the export business.
3. To re-ascertain the cloth tariff price at the import stage. Lately the proposals have been sent to NBR by Tariff Commission.
4. To figure out Back again-to-again LC as the solitary instrument for issuing UP from Bond Commissionerate for Deemed Exporters. To impose 1% Tax ( similar tax price ) for all capital machinery and spare pieces. Deemed exporters must be similarly addressed as they have a considerable role in the country’s economy.