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Views: 0 Author: Site Editor Publish Time: 2023-04-03 Origin: Site
The Bangladesh Textile Mills Association (BTMA) sought permission for duty-free import of all kinds of fibres, including recycled and man-made, in fiscal 2023-24 without any non-tariff barriers.
Association president Mohammad Ali Khokon submitted a request for the same during a meeting with the National Board of Revenue (NBR) in Dhaka.
BTMA requested NBR to remove the value-added tax (VAT) imposed on the collection of raw materials by deemed exporters to produce recycled fibre and later during their sale to domestic millers.
It also requested VAT exemption on fabrics manufactured from artificial fibre by power looms.