Nepal’s Printers hails govt decision to impose customs duty on printed materials
KATHMANDU: Federation of Nepal Printers Association (FNPA) has hailed the decision of the government to impose 10 per cent customs duty in the import of the printed materials in the country.
Issuing a press statement, the FNPA on Wednesday stated that the decision to impose 10 per cent customs duty on the items printed outside the countries and imported to Nepal would have a positive effect on the deteriorating printing industry of the nation.
It its economic bills proposed in line with its fiscal budget, the government has decided to impose the new customs duty as per the recommendation of the domestic printing industries.
The provision of the new customs duty will discourage the trend of printing and importing stationery items from India, ignoring domestic printing industries, it stated.
Earlier, the government was not imposing any type of tax in the import of printed items, including books showing the UNESCO Declaration and BERNE Convention, but was imposing 15 per cent import duty and 13 per cent VAT on the printing raw materials.
This discriminating provision on printed items and raw materials had adversely affected the competitive power of domestic printing companies with foreign companies, it stated.
“It has also impacted self-employment opportunity in the country.”
The domestic printing industry has been self-reliant and can even export printed items if the government provides required support to the industry, it sated.
The FNPA has also urged the government to provide necessary support to the private sector for security printing (printing of bank notes, passport, hologram, stickers etc.) within the country or establish security printing press in a public private partnership (PPP) model.
Published Date: Wednesday, June 12th, 2019 | 08:02 PM