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Sri Lanka Cuts Tax on Imported Fabric to Boost Apparel Exports

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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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