Exporters get sops to fight crisis

The government has raised tax rebates for more than 600 export items, some up to the maximum level possible, as it stepped up efforts to provide succor to businesses battling the global economic slowdown.

The Ministry of Finance said yesterday that it had increased tax rebates ranging from 5 to 17 percent on export products, including ethanol, toys and sewing machines, effective June 1.

The export tax rebate scheme allows enterprises to get back part or all of the money they have paid in value-added tax, which stands at up to 17 percent, for items that have gone into the production of export goods.