Vietnam'S Clothing Manufacturers Want The Government To Exempt Value-Added Tax.

Vietnam?

The association has proposed to the government that the value-added tax of textile enterprises be exempted within 3-6 months to stimulate consumption in domestic and export markets.

According to the proposal, the Vietnam textile and Apparel Association also expects exporters to increase their VAT rebates from 10% to 15%.

In addition, the Vietnam textile and Apparel Association said,

It is hoped that the Pan Pacific strategic economic partnership agreement will be successfully held to enter the new market, especially in the US market.

According to this agreement, exporters can enjoy 16-18%'s tax rebate, and export tax on some items is zero.

Vietnam textile and Apparel Association said that the export market of Vietnam's textile products narrowed, and the fierce competition of fabric in the background of global economic recession.

Domestic textile exporters are worried about the reduction of export orders in the last few months of this year.

Deng Fangrong, Secretary General of Vietnam textile and Garment Association, said that in the first 8 months of this year, the export volume of textile and garment industry increased by 7% to 9 billion 720 million US dollars.

However, textile

Still facing the shortage of export orders.

Deng Fangrong said that for textile enterprises, especially small and medium-sized enterprises, it is very difficult to arrange funds and look for orders to develop production.

No orders, declining incomes and lack of workers have led to more difficulties for enterprises.

Local textile exporters say that the rise in sales price can not offset the increase in input costs, because most of the turnover is spent on imported raw materials and other input costs.

In addition, exporters are worried about the termination of the 275 day preferential tax policy for imported raw materials, which makes it more difficult for them to maintain production level, while the recession is still continuing.