Exporters demand reduction of rates
Tax at source
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Exporters Association of Bangladesh (EAB) yesterday placed a number of demands, including upholding the present rate of 0.3 per cent tax at source for the export sectors in the upcoming budget for 2015-16 fiscal, reports UNB.
The demands came at a press conference held at the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) office at Karwan Bazar in the city.
BGMEA Second Vice President SM Mannan (Kochi), Vice President (Finance) Reaz Bin Mahmood and FBCCI Senior Vice President Shafiul Islam Mohiuddin were present at the press conference with EAB president Abdus Salam Murshedy in the chair. Abdus Salam Murshedy read out a written statement at the press conference.
The EAB chief also demanded extending the tax rebate facilities of 10 per cent corporate tax for the export sectors for another five years until 2019 and removing value added tax on the purchase of local raw materials.
Murshedy claimed that the business is not in a good shape now as the growth and export are on the decline due to various challenges.
This is the high time we need support from the government for the sake of business and economy as well, he added.
He said some major export industries have seen a significant decrease in growth till May-June of 2015.
Frozen foods industry saw a 20 per cent slump in growth while shrimp 17 per cent, leather 35 and knitwear 6 per cent.
