The Bangladesh Textile Mills Association (BTMA) recently 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.
Source: www.fibre2fashion.com
