Bangla Garment Sector Demands Exemption From Tax At Source
At a pre budget discussion with the National Board of Revenue (NBR), various trade bodies associated with the Bangladesh garment export industry put forth various demands. These included, reducing corporate tax to 10 per cent from existing 20 per cent and also exempting the apparel industry from tax at source for a minimum period of two years.
Other demands made by various trade bodies were to allow import of pre-fabricated building material under bonded facility at zero duty to ensure workplace safety. They also demanded duty free import of sprinkler systems, equipment, fire-resistant doors, etc for safety compliance measures.
There was also a request that the policy for the apparel industry should be fixed for a five year period, as changes in policy, every year created problems for the industry.
Representatives from various associations like Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh Textile Mills Association (BTMA), etc attended the meeting.