BGMEA seeks .5% source tax for 5yrs

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has demanded cutting tax at source against exports from the existing 1 per cent to previously set 0.50, and expanding this facility for the next five years.

BGMEA made the call at a press conference in Dhaka on Thursday, adding that the move – if implemented – would give investors the confidence to formulate medium-term trade and investment strategy.

The association also sought a reduction in corporate rate to 12 per cent, withdrawal 10 per cent tax on cash incentive on readymade apparel exports.