Scrap scheme to raise tax on paper, ink import

Entrepreneurs of the printing and packaging sector have called upon the government to withdraw additional taxes and duties on raw materials to help the sector flourish.
They said that the printing and packaging sector would incur financial losses due to additional taxes and duties in the proposed budget for the fiscal year 2022-2023.
They made the demand at a meeting at the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) office in the city on Thursday.
The meeting discussed that the budget proposed increasing duties on imported paper, paper board, artcard and artpaper to 25 per cent from the existing 15 per cent while on printing plate to 10 per cent from the existing one (1.0) per cent and on printing ink to 15 per cent from the existing 10 per cent.
While presiding over the meeting Vice-President of FBCCI Md Amin Helaly said that due to additional taxes and duties in the proposed budget on raw materials, the packaging and printing costs would increase to a great extent and thus bring an adverse impact on overall education system and the sector.
He said that the local entrepreneurs would also lose their export competiveness due to additional taxes and duties.
He said that if the government reduces an additional import taxes and duties then import of paper through legal channel would increase and thus help increase the government revenue.
He called upon the government to allow duty free import of paper used for books.
President of Bangladesh Paper Importers Association (BPIA) and also the director of FBCCI Shafiqul Islam Barosha, directors of FBCCI Rabbani Jabbar and Humayun Rashid Khan Pathan, and Chairman of Bangladesh Printing Industry Association Shaheed Serniabat, and Vice-President of Bangladesh Pustok Prokashak and Bikreta Samity Shaymal Pal were present, among others, at the meeting.

talhabinhabib@yahoo.com