BGMEA demands withdrawal of source tax for 2yrs

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) today demanded the government to withdraw for two years the one percent source tax on exports proposed in the budget for FY 2017-18.

They also demanded the corporate tax to be brought down to 10 percent from the existing 20 percent, BGMEA President Siddikur Rahman said in a press briefing arranged at their office.

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However, the government in the budget 2017-2018 proposed a corporate tax of 15 percent.

BGMEA also demanded five percent cash incentive on exports for the next two years.

The demands were made following Finance Minister AMA Muhith’s proposal of the budget for Fiscal Year 17-18 on June 1.