BGMEA demands waiving tax at source

Economic Correspondent: The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has demanded waiving tax at source, Value Added Tax (VAT) exemption on electricity, fuel and water bills.

The apex apparel body also sought equal rate of corporate tax for all export oriented business organisations.

BGMEA president Siddiqur Rahman came up with the demands at a pre-budget discussion on Tuesday morning.

He said, “The revenue comes from tax at source of readymade garment factories Tk 2,000 crore of the upcoming budget for 2018-2019 fiscal year. On the other hand, the sector is creating employment for nearly a crore people. So, it should be considered as priority basis. Besides, there is no tax at source on export products anywhere in the world. For this, we demand .70 tax at source waiving for this sector for at least next three years.”

risingbd/Dhaka/April 24, 2018/M A Rahman/A K Azad