Vietnam's fiscal landscape in the first quarter of this year has been marked by a mix of encouraging export growth and vigilance against illicit activities, as reported by the general department of Vietnam customs. Despite a slight dip in budget revenue from exports and imports compared to the same period last year, the country has witnessed a notable surge in exports, resulting in a trade surplus.
The garment industry in Bangladesh, a key pillar of the nation's economy, is undergoing a strategic transformation aimed at diversifying beyond traditional cotton fibers. This shift comes in response to a comprehensive study titled "Beyond Cotton," commissioned by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), which underscores the need for embracing alternative fibers to remain competitive in the global market.
Indian exporters are raising concerns over the implications of Section 43B(h) of the Income Tax Act, which mandates timely payments to micro and small enterprises (MSMEs). They fear that without a level playing field, they may lose opportunities to global competitors, prompting export promotion councils to appeal for exemptions from this provision.
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