Exporters of readymade garments (RMG) have demanded the tax waiver at source along with bringing down the corporate tax 10 percent.In a pre-budget discussion of the National Board of Revenue (NBR), the Bangladesh Garment Man-ufacturers and Exporters Association (BGMEA) placed their proposal yesterday. In the meeting, BGME president Siddiqur Rahman said country's RMG sector is currently exporting goods worth $30 billion.
From the export earnings, the government get Tk 20 billion to Tk 25 billion as taxes at source. The government should waive tax at source on RMG exports. He said all sectors including RMG sector demand to bring down the corporate tax to 10 percent which is now 12 percent. The exporters demanded making the NBR audit system online.
At his written proposal, the BGMEA leader said they want to VAT waiver and submit return on 39 services including manufacturing exported-oriented products, laboratory test charges and consultancy charges.He said "We have demanded duty-free access to all kinds of fire safety systems including fire-fighting pumps and spring collars, gas-power-water belt, freedom fighter, LED (Light Emitting Diode) lamp.
Mosharraf Hossain Bhuiyan, chairman of NBR said that everyone will be get equal opportunities in the export-oriented business. For the development of the country, the government has to expand export basket. Otherwise, graduation to a developing country won't be possible.
Readymade garment (RMG) export has increased over 8 percent in last nine months of the current fiscal year compared to the corresponding period in last year as the demand of local apparels is increasing in the global market.
According to latest data of the Export Promotion Bureau (EPB), the RMG sector including knitwear and woven garments are the lifeline of Bangladesh economy in terms of export earnings, the sector has earned $23 billion and raised 8 percent in the time.In last nine months, the export growth of knitwear products was over 11 percent and woven garments export over 6 percent. In the time, knitwear sector has earned $11.32 billion and the woven garments $11.51 billion.
-Shah Alam Nur, AA
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