Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) recently demanded reduction of corporate tax to 10-12 per cent from the proposed 35 per cent to ensure the sector’s growth as the National Export Policy had instructed to ensure same facilities for both direct and deemed exporters. The budget proposed 35 per cent corporate tax on accessories exports and 12 per cent for readymade garment (RMG) exporters. BGAPMEA president Mohammad Abdul Kader Khan demanded cash incentives for the sector at par with the RMG sector, according to Bangla media reports. Kader urged the finance minister to continue source tax against exports at 0.25 per cent for the next fiscal.
Source – Fibre2Fashion.
