Lower tax, VAT for RMG sector

CHATTOGRAM, May 24: The Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Chattogram unit, has called for a reduction in taxes, VAT, as well as the power and gas tariff for the readymade garment (RMG) sector in the upcoming budget.
In a statement, Syed Najrul Islam, the First Vice President of BGMEA, said the RMG sector contributes 82 per cent to the country's total export income.
He said the BGMEA is working to achieve the target of $100 billion in export earnings by 2030. In light of this, he urged the government to assess taxes for the RMG sector based on corporate rates and reduce the tax at the source for the benefit of the industry.
"The next budget should be business-friendly. At the same time, the government should ensure that the RMG industry get gas and power at a low cost," he added.
The upcoming budget should take into account the demands of exporters to facilitate the growth of export, he said.

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