Home / Knowledge / News / Textiles / VAT on textile & garments to be halved
VAT on textile & garments to be halved
24
Apr '09
For boosting the economy of the country, Prime Minister Nguyen Tan Dung has lowered down the taxes on the sale of various goods, which will come in to force from the next month and to increase domestic consumption the government may spend up to $6 billion this year

The government published this information on its website regarding its various plans to boost economy, where it has mentioned that it will reduce the value-added taxe by up to 50 percent on textiles, garments, leather, paper, cement and other goods.

From next month to the end of the year, importers of various machineries will also be allowed a delay in payment of taxes by up to 180 days and the local producers of textile and footwear will be allowed to enjoy 30 percent corporate tax reduction for the fourth quarter of 2008.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Textiles | On 30th Mar 2017

Azerbaijan cotton industry created 64,000 jobs last year

Cotton industry in Azerbaijan created 64,000 jobs in 2016, and a...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search