BTMA demanded withdrawal of VAT & import duty on manmade fiber

Bangladesh Textile Mills Association (BTMA) said the FY21-22 budget proposals will hinder Bangladesh’s textile industry. Textile millers recently demanded the withdrawal of value-added tax (VAT) and import duty on all kinds of manmade fiber for the potential growth of the non-cotton fashion industry. The government did not address this issue in the proposed budget. BTMA President Mohammad Ali Khokon said, “If we want to grab more of the global market share, we will have to choose the manmade fibers”