BGMEA wants continuation of 0.5 per cent source tax

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Saturday demanded that the government continue the existing 0.5 per cent source tax for the next five years in the new budget.

“We demand the continuation of the existing rate of 0.5 per cent source tax as it is suitable for long-term business planning,” said BGMEA President Faruque Hassan.

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The budget for 2021-22 fiscal did not include the proposals made to the authorities for the benefit of the RMG sector, he said at press conference at its headquarters in Uttara.

The BGMEA president welcomed the proposal to reduce import duty on some machine parts and chemicals used in the garment sector.

Source: United News of Bangladesh