BGMEA for withdrawal of source tax on RMG exports

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) today demanded withdrawal of source tax on ready-made garment (RMG) exports and bringing down the corporate tax to 10 percent from existing 12 percent in the upcoming budget for fiscal year 2018-19 (FY19).

During a pre-budget meeting with the National Board of Revenue (NBR), BGMEA President Siddikur Rahman also demanded withdrawal of Value Added Tax (VAT) on utility services such as gas, power and water for the RMG industry and introduction of online audit system. 

NBR chairman Md Mosharrraf Hossain Bhuiyan presided over the pre-budget discussion that was also attended by Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Bangladesh Textile Mills Association (BTMA). 

Mosharrraf Hossain Bhuiyan sought cooperation of the owners of the garment factories to bring those businesspeople who are outside of the purview Tax-VAT under the tax net, saying that the NBR will consider keeping all facilities that are required for health business in the next budget. 

He said all export-oriented sectors will get equal opportunities. The government is offering incentives for exporters and steps need to be taken to 
expand the export items to increase the exports and it is urgently needed for becoming a developing nation, he added. 

BTMA director Md Khorshed Alam claimed that over 87 lakh meters of clothes enter Bangladesh through border haat everyday. As a result, the local clothes manufactures are affected seriously, he said and demanded steps to stop such smuggling activities. 

The NBR chairman said surveillance will be beefed up on border haats to check smuggling of clothes. Steps will also be taken to stop misuse of bond 
facilities, he added.BSS. 

HM

BGMEA for withdrawal of source tax on RMG exports

Bangladesh Garment Manufacturers and ExportersAssociation (BGMEA) today demanded withdrawal of source tax on ready-madegarment (RMG) exports and bringing down the corporate tax to 10 percent fromexisting 12 percent in the upcoming budget for fiscal year 2018-19 (FY19). During a pre-budget meeting with the National Board of Revenue (NBR),BGMEA President Siddikur Rahman also demanded withdrawal of Value Added Tax(VAT) on utility services such as gas, power and water for the RMG industryand introduction of online audit system. NBR chairman Md Mosharrraf Hossain Bhuiyan presided over the pre-budgetdiscussion that was also attended by Bangladesh Knitwear Manufacturers andExporters Association (BKMEA) and Bangladesh Textile Mills Association(BTMA). Mosharrraf Hossain Bhuiyan sought cooperation of the owners of the garmentfactories to bring those businesspeople who are outside of the purview Tax-VAT under the tax net, saying that the NBR will consider keeping allfacilities that are required for health business in the next budget. He said all export-oriented sectors will get equal opportunities. Thegovernment is offering incentives for exporters and steps need to be taken to expand the export items to increase the exports and it is urgently needed forbecoming a developing nation, he added. BTMA director Md Khorshed Alam claimed that over 87 lakh meters of clothesenter Bangladesh through border haat everyday. As a result, the local clothesmanufactures are affected seriously, he said and demanded steps to stop suchsmuggling activities. The NBR chairman said surveillance will be beefed up on border haats tocheck smuggling of clothes. Steps will also be taken to stop misuse of bond facilities, he added.BSS. HM