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Sri Lanka Cuts Tax on Imported Fabric to Boost Apparel Exports

Responding to requests from the apparel manufacturing industry to ease the tax burden, Sri Lanka has cut its duty on fabric imports by two-thirds. Minister Mangala Samaraweera reduced the value added tax (VAT) on imported fabric from 15 percent to 5 percent “considering the requests made by the stakeholders in the fabric industry,” according to Ali Hassen, director…

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