Staff Reporter :
Apparel makers have demanded additional 5 percent cash incentives on exports of the item for the next two years.
M Siddiqur Rahman, President of Bangladesh Garment Manufacturers and Exporters Association, the apparel makers’ apex trade body, raised the demand at a press conference at the BGMEA office in the city on Saturday.
“Apart from the existing facilities, we want additional 5 percent cash incentive on the export value of FOB for the next two years, which will be applicable for only the members of BGMEA and BKMEA, to protect the country’s apparel industry,” Rahman said.
Meanwhile, the government mulls raising the existing export tax of 0.70 percent to 1.00 percent from the next budget.
The BGMEA chief also demanded slashing of the corporate tax for the readymade garments industry to 10 percent from the 20 percent, and requested the government to continue it for next five years.
He also urged the government to withdraw tax at source fully from the apparel sector for the next two years considering the adverse scenario of the apparel sector.
In the press conference titled “Present Situation of the Country’s Apparel Industry and Forthcoming Budget for Fiscal Year 2017-18”, the trade body focused on the overall scenario of the sector and sought a stable policy support from the government to flourish the sector.
“All the policy for the apparel industry should be formulated for a minimum five-year period, as frequent changes in policy creates trouble in doing business,” added Siddiqur Rahman.
He hoped that the government would also adopt long-term plan on gas, power and tax to encourage investment in the country.
Apparel makers have demanded additional 5 percent cash incentives on exports of the item for the next two years.
M Siddiqur Rahman, President of Bangladesh Garment Manufacturers and Exporters Association, the apparel makers’ apex trade body, raised the demand at a press conference at the BGMEA office in the city on Saturday.
“Apart from the existing facilities, we want additional 5 percent cash incentive on the export value of FOB for the next two years, which will be applicable for only the members of BGMEA and BKMEA, to protect the country’s apparel industry,” Rahman said.
Meanwhile, the government mulls raising the existing export tax of 0.70 percent to 1.00 percent from the next budget.
The BGMEA chief also demanded slashing of the corporate tax for the readymade garments industry to 10 percent from the 20 percent, and requested the government to continue it for next five years.
He also urged the government to withdraw tax at source fully from the apparel sector for the next two years considering the adverse scenario of the apparel sector.
In the press conference titled “Present Situation of the Country’s Apparel Industry and Forthcoming Budget for Fiscal Year 2017-18”, the trade body focused on the overall scenario of the sector and sought a stable policy support from the government to flourish the sector.
“All the policy for the apparel industry should be formulated for a minimum five-year period, as frequent changes in policy creates trouble in doing business,” added Siddiqur Rahman.
He hoped that the government would also adopt long-term plan on gas, power and tax to encourage investment in the country.
