Home / Knowledge / News / Textiles / Textile sector benefits from newly passed law

Textile sector benefits from newly passed law

20
Apr '07
Chamber of Deputies, the lower house of Dominican Republic bicameral National Congress, has passed a law on April 18, which declares high priority on confection, accessories, skins, footwear and leather manufacturing companies and an exemption from value added tax (VAT) for the supplies and raw materials that comply with the textile sectors.

The law exempts taxes on the Transfer of Industrialized Goods and Services (ITBIS) from textile area free zones, which levied eight percent tax earlier and also from other taxes of the Tributary Code.

This step, a source of direct and indirect of jobs, was taken to raise competitiveness among these companies.

The law is expected to bring substantial changes in international trade arena through agreements signed with the World Trade Organization and Free Trade Agreement with Central America and United States.

The Senate has already passed this legislation and now it requires the approval of President Leonel Fernandez to become a law.


Must ReadView All

Pic: Shutterstock

Textiles | On 16th Oct 2021

China's economic growth reflects strong resilience, vitality: Li

Premier Li Keqiang has said China is capable and confident of...

Pic: Shutterstock

Apparel/Garments | On 16th Oct 2021

BGMEA urges Bangladesh govt to reskill & upskill RMG workers

The Bangladesh Garment Manufacturers and Exporters Association...

Pic: Shutterstock

Retail | On 16th Oct 2021

UK retail sales rises by 0.6% in Sep 2021; figure 5.6% in Sep 2020

Total UK retail sales rose by 0.6 per cent in September this year...

Interviews View All

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Textile Industry, Head honchos

Textile Industry
Head honchos

Trainers faced immense challenges as most were not tech-savvy

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Klaus Bergmann,

Klaus Bergmann

German company Erbatech GmbH develops, designs and manufactures high end...

Yawer Ali Shah,

Yawer Ali Shah

Synthetic colours and dyes were all the rage till the very first ban on...

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Dr Anup Rakshit, ITTA

Dr Anup Rakshit
ITTA

The Indian Technical Textile Association (ITTA) is the only association of ...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

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

Leave your Comments


October 2021

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


Advanced Search