Domestic paint manufacturers have urged the National Board of Revenue (NBR) to reduce the duties imposed on the imported raw materials for manufacturing paints.
Bangladesh Paint Manufacturers Association (BPMA) president B. B. Saha Roy yesterday came with the plea at a meeting with the NBR officials held at the NBR headquarters in the city.
B. B. Saha Roy has requested the NBR official to withdraw 5% supplementary duty and reduce the duty on the imported raw materials from the existing 10% to 5%.
Some environmental groups have long been pressing us for using lead-free products to save the environment. Although we welcome the move, we are still using lead-made dryers as the alternative Zirconium dryers are very expensive to us,” said Shaha.
He demanded the government for fixing 0% duty on the import of zirconium dryer, so the import of harmful lead-made materials would be stopped.
He also requested the NBR to introduce multi-level value added tax (VAT) system with 5% VAT for companies having business below Tk10 crore, 7.5% for companies having business in between Tk10 crore and Tk100 crore business, 10% VAT for companies having business in between Tk100 crore and Tk250 crore, and 15% VAT for the companies having business over Tk2500 crore to help survive the small factories.
Meanwhile, the leaders of Bangladesh Cosmetics and Toiletries Manufacturers Association (BCTMA) have also demanded for reducing both the Advance Trade VAT and VAT from the existing 8% to 2% at the same meeting.
