BGMEA seeks tax waiver at sources for 2-year
BSS
Apparel sector yesterday sought waiver of tax at sources for two-year to take forward further the prime export earning sector of the country, reports BSS.
Leaders of different associations, including Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), were addressing a pre-budget discussion meeting with National Board of Revenue (NBR) with NBR chairman Md Nojibur Rahman in the chair.
Our demand is for 0.50 per cent tax at sources against the existing 0.70 per cent. But the tax should keep waived for next two-year, said BGMEA President M Siddiqur Rahman.
Terming the apparel sector as a vital one to create employment opportunities in the country, he said the sector will move further ahead if it gets tax waiver at sources.
Mentioning the present time as a crisis period for the apparel sector, Siddiqur Rahman said that Bangladesh achieved below three per cent growth in last ten-year in the sector while 13 per cent was average growth.
We have responsibility to do something for keeping alive the sector, he added.
He also underscored the need for adopting at least five-year policy in budget for export sector to avoid different decisions in every year which create problems in the work plans.
He also emphasised on implementing the new Value Added Tax (VAT) law after thinking more saying the law can hamper the mass people.
Nojibur Rahman said NBR will provide all kinds of incentives to the honest businessmen.
