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<p>Investors who have invested heavily on the textile industry have expressed their dissatisfaction toward the recent change in tax policy adopted by the government.</p>
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<p>Economists say that the government’s decision to remove the textile industry from its priority list will have an adverse effect in its attempt to create employment opportunities within the country.</p>
<p>Investors who have invested heavily on the textile industry have expressed their dissatisfaction toward the recent change in tax policy adopted by the government.</p>
<p>As of last fiscal year, the producers of ‘suti’ clothes did not have to pay VAT while the producers of synthetic clothes used to get 70 percent refund on VAT. The entrepreneurs have complained that the government’s decision to waive the concession it had been providing will result in price hike and decline in the demand of home-made textiles.</p>
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<p>Economists say that the government’s decision to remove the textile industry from its priority list will have an adverse effect in its attempt to create employment opportunities within the country.</p>
<p>Investors who have invested heavily on the textile industry have expressed their dissatisfaction toward the recent change in tax policy adopted by the government.</p>
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<p>Investors who have invested heavily on the textile industry have expressed their dissatisfaction toward the recent change in tax policy adopted by the government.</p>
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<p>“It is not possible to increase the price of clothes at the same ratio like other goods. We cannot sell them at a price lower than our cost either. So, how will we run our business?” he questioned.</p>
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New Tax Policy Lands Textile Industries in Trouble
1 min 28 sec to read
July 24: The domestic textile industries of Nepal are reeling under trouble after the government withdrew its concession on Value Added Tax (VAT) in the current fiscal year. The textile entrepreneurs have complained that the home-grown textiles and clothes face great threat as they cannot compete with the illegally-imported goods and the sub-standard goods brought in the country by paying minimum customs duty.
Economists say that the government’s decision to remove the textile industry from its priority list will have an adverse effect in its attempt to create employment opportunities within the country.
Investors who have invested heavily on the textile industry have expressed their dissatisfaction toward the recent change in tax policy adopted by the government.
As of last fiscal year, the producers of ‘suti’ clothes did not have to pay VAT while the producers of synthetic clothes used to get 70 percent refund on VAT. The entrepreneurs have complained that the government’s decision to waive the concession it had been providing will result in price hike and decline in the demand of home-made textiles.
Pragati Textile Industry’s Director Jitendra Lohia says that the textile industries have managed to survive so far only because of the VAT concession provided by the government.
“It is not possible to increase the price of clothes at the same ratio like other goods. We cannot sell them at a price lower than our cost either. So, how will we run our business?” he questioned.
The businessmen have argued that the new tax policy will see a rise in prices of the home-made textiles by 13 percent, which can ultimately collapse the entire business of textiles.
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View::_evaluate() - CORE/Cake/View/View.php, line 971
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<p>Economists say that the government’s decision to remove the textile industry from its priority list will have an adverse effect in its attempt to create employment opportunities within the country.</p>
<p>Investors who have invested heavily on the textile industry have expressed their dissatisfaction toward the recent change in tax policy adopted by the government.</p>
<p>As of last fiscal year, the producers of ‘suti’ clothes did not have to pay VAT while the producers of synthetic clothes used to get 70 percent refund on VAT. The entrepreneurs have complained that the government’s decision to waive the concession it had been providing will result in price hike and decline in the demand of home-made textiles.</p>
<p>Pragati Textile Industry’s Director Jitendra Lohia says that the textile industries have managed to survive so far only because of the VAT concession provided by the government.</p>
<p>“It is not possible to increase the price of clothes at the same ratio like other goods. We cannot sell them at a price lower than our cost either. So, how will we run our business?” he questioned.</p>
<p>The businessmen have argued that the new tax policy will see a rise in prices of the home-made textiles by 13 percent, which can ultimately collapse the entire business of textiles.</p>
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<p>Economists say that the government’s decision to remove the textile industry from its priority list will have an adverse effect in its attempt to create employment opportunities within the country.</p>
<p>Investors who have invested heavily on the textile industry have expressed their dissatisfaction toward the recent change in tax policy adopted by the government.</p>
<p>As of last fiscal year, the producers of ‘suti’ clothes did not have to pay VAT while the producers of synthetic clothes used to get 70 percent refund on VAT. The entrepreneurs have complained that the government’s decision to waive the concession it had been providing will result in price hike and decline in the demand of home-made textiles.</p>
<p>Pragati Textile Industry’s Director Jitendra Lohia says that the textile industries have managed to survive so far only because of the VAT concession provided by the government.</p>
<p>“It is not possible to increase the price of clothes at the same ratio like other goods. We cannot sell them at a price lower than our cost either. So, how will we run our business?” he questioned.</p>
<p>The businessmen have argued that the new tax policy will see a rise in prices of the home-made textiles by 13 percent, which can ultimately collapse the entire business of textiles.</p>
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include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]
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<p>Economists say that the government’s decision to remove the textile industry from its priority list will have an adverse effect in its attempt to create employment opportunities within the country.</p>
<p>Investors who have invested heavily on the textile industry have expressed their dissatisfaction toward the recent change in tax policy adopted by the government.</p>
<p>As of last fiscal year, the producers of ‘suti’ clothes did not have to pay VAT while the producers of synthetic clothes used to get 70 percent refund on VAT. The entrepreneurs have complained that the government’s decision to waive the concession it had been providing will result in price hike and decline in the demand of home-made textiles.</p>
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<p>“It is not possible to increase the price of clothes at the same ratio like other goods. We cannot sell them at a price lower than our cost either. So, how will we run our business?” he questioned.</p>
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<p>Economists say that the government’s decision to remove the textile industry from its priority list will have an adverse effect in its attempt to create employment opportunities within the country.</p>
<p>Investors who have invested heavily on the textile industry have expressed their dissatisfaction toward the recent change in tax policy adopted by the government.</p>
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<p>“It is not possible to increase the price of clothes at the same ratio like other goods. We cannot sell them at a price lower than our cost either. So, how will we run our business?” he questioned.</p>
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simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
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<p>Economists say that the government’s decision to remove the textile industry from its priority list will have an adverse effect in its attempt to create employment opportunities within the country.</p>
<p>Investors who have invested heavily on the textile industry have expressed their dissatisfaction toward the recent change in tax policy adopted by the government.</p>
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<p>Economists say that the government’s decision to remove the textile industry from its priority list will have an adverse effect in its attempt to create employment opportunities within the country.</p>
<p>Investors who have invested heavily on the textile industry have expressed their dissatisfaction toward the recent change in tax policy adopted by the government.</p>
<p>As of last fiscal year, the producers of ‘suti’ clothes did not have to pay VAT while the producers of synthetic clothes used to get 70 percent refund on VAT. The entrepreneurs have complained that the government’s decision to waive the concession it had been providing will result in price hike and decline in the demand of home-made textiles.</p>
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<p>“It is not possible to increase the price of clothes at the same ratio like other goods. We cannot sell them at a price lower than our cost either. So, how will we run our business?” he questioned.</p>
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include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
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Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]
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<p>Economists say that the government’s decision to remove the textile industry from its priority list will have an adverse effect in its attempt to create employment opportunities within the country.</p>
<p>Investors who have invested heavily on the textile industry have expressed their dissatisfaction toward the recent change in tax policy adopted by the government.</p>
<p>As of last fiscal year, the producers of ‘suti’ clothes did not have to pay VAT while the producers of synthetic clothes used to get 70 percent refund on VAT. The entrepreneurs have complained that the government’s decision to waive the concession it had been providing will result in price hike and decline in the demand of home-made textiles.</p>
<p>Pragati Textile Industry’s Director Jitendra Lohia says that the textile industries have managed to survive so far only because of the VAT concession provided by the government.</p>
<p>“It is not possible to increase the price of clothes at the same ratio like other goods. We cannot sell them at a price lower than our cost either. So, how will we run our business?” he questioned.</p>
<p>The businessmen have argued that the new tax policy will see a rise in prices of the home-made textiles by 13 percent, which can ultimately collapse the entire business of textiles.</p>
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'summary' => 'July 24: The domestic textile industries of Nepal are reeling under trouble after the government withdrew its concession on Value Added Tax (VAT) in the current fiscal year. ',
'content' => '<p>July 24: The domestic textile industries of Nepal are reeling under trouble after the government withdrew its concession on Value Added Tax (VAT) in the current fiscal year. The textile entrepreneurs have complained that the home-grown textiles and clothes face great threat as they cannot compete with the illegally-imported goods and the sub-standard goods brought in the country by paying minimum customs duty.</p>
<p>Economists say that the government’s decision to remove the textile industry from its priority list will have an adverse effect in its attempt to create employment opportunities within the country.</p>
<p>Investors who have invested heavily on the textile industry have expressed their dissatisfaction toward the recent change in tax policy adopted by the government.</p>
<p>As of last fiscal year, the producers of ‘suti’ clothes did not have to pay VAT while the producers of synthetic clothes used to get 70 percent refund on VAT. The entrepreneurs have complained that the government’s decision to waive the concession it had been providing will result in price hike and decline in the demand of home-made textiles.</p>
<p>Pragati Textile Industry’s Director Jitendra Lohia says that the textile industries have managed to survive so far only because of the VAT concession provided by the government.</p>
<p>“It is not possible to increase the price of clothes at the same ratio like other goods. We cannot sell them at a price lower than our cost either. So, how will we run our business?” he questioned.</p>
<p>The businessmen have argued that the new tax policy will see a rise in prices of the home-made textiles by 13 percent, which can ultimately collapse the entire business of textiles.</p>
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