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India raises leather work tax to 12%

India’s Goods and Services Tax (GST) Council has made the decision to increase GST tax on work related to the processing and manufacture of leather goods and footwear.

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We need to invest in repair shops

Overconsumption is driving us towards an extinction event. It is filling landfills that we do not have space for, consuming resources at an unprecedented rate and using virgin materials, made from fossil fuels, in ridiculous quantities. 

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Bangladesh tanners to receive loans to buy raw materials

State controlled banks in Bangladesh have stepped in to help traders buy in hides and skins. Four state-owned banks are said to provide 23 entities with a credit facility for purchasing rawhides on the eve of Eid-ul-Azha, the biggest supply season of the item.

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70 leather factories have closed in Argentina according to CIMA

According to the President of the Argentina Chamber of Leather and Allied Manufacturers (CIMA), Ariel Aguilar a fall in domestic consumption, the increase of imports and the rise in business and interest rates have made many companies unviable and have caused the loss of more than 3,000 jobs and the closure of 70 leather factories in 2018.

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China cuts import tax on donkey hides

China’s General Administration of Customs has lowered the import tax on donkey hides as from January 1, 2018 as demand is reported to soar for their medicinal uses.

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Belgian trader margins squeezed

Cows 24/26 kg are still priced US$55-56/hide, but due to the drop of the exchange rate between euro and US$, their profitability has sensibly reduced. In general, traders see their margins squeezed by the high prices of cows at the abattoir and aggressive low bids from customers, compounded by an unfavourable exchange rate when hides are sold in US$.

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India gets ready for its biggest tax reform

Effective from midnight July 1, 2017, India’s Goods and Service Tax (GST) reform, which seeks to improve business operations by uniting all the 29 states’ different tax arrangements, has pressed footwear retailers to liquidate all their stock.

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