Agents providing various services to foreign companies are quoting the government’s own Tax Research Unit’s (TRU’s) clarification in asking for exempting them from the 18 per cent goods and services tax (GST).
Commerce and industry minister Piyush Goyal said that ecommerce companies are cooperating with the government after being sent questionnaires over complaints regarding the alleged violation of foreign direct investment (FDI) rules.
The Bangladesh government is giving the highest priority to free trade agreements (FTAs) for expanding trade and exports, according to commerce minister Tipu Munshi, who recently told a seminar FTAs are needed to meet future challenges in the competitive global trade environment after the formal enlistment in the list of developing nations in 2024.
Chinese textile manufacturing giant Wuxi No. 1 Cotton Textile PLC recently opened its Ethiopian unit, with an aim to export most of its products to global markets, primarily mainly Europe, North America and Asia.
In the SRO, NBR said that apparel exporters would pay 0.25% tax at source until June 30, 2020
The textiles recycling industry is facing several issues such as high supply, falling quality, payment concerns, and a need for better recycling solutions.