Dhaka, June 25 -- Three trade bodies in the steel manufacturing industry have demanded withdrawal of proposed taxes on different stages of steel rod production and sale.

Instead, they proposed to pay Tk 2,250 as fixed VAT in place of the existing fixed VAT of Tk 1,400 on production and sale of steel rod.

The three bodies - Bangladesh Steel Manufacturers Association (BSMA), Bangladesh Re-rolling Mills Association (BRRMA), and Bangladesh Steel Mills Owners Association (BSMOA) - placed the demands at a joint a press conference at Jatiya Press Club on Tuesday.

In a prepared statement, BSMA Secretary General Muhammad Shahidullah said they have to pay about Tk 10,350 incremental taxes if the new VAT and other taxes come into effect.

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