• Wednesday, October 01, 2014

Withdraw duties on newsprint imports

Star Business Report

Business leaders called for withdrawal of import duties on newsprint and related materials and value-added tax on the struggling newspaper industry.
At present, there are 3 percent duties on newsprint imports and 15 percent VAT on the industry.
“It costs Tk 15 to Tk 16 for printing a piece of newspaper. But we can sell it at Tk 8. Due to high import duty, all but only two to three newspapers are loss-making,” said AK Azad, a former president of FBCCI.“Besides, there is a 15 percent VAT. So, it is not possible for them to survive. The duties and VAT should be withdrawn.”

Published: 12:00 am Friday, May 09, 2014

Last modified: 11:15 pm Thursday, May 08, 2014

TAGS: VAT Business leaders Withdraw duties newspaper.

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