Home / Knowledge / News / Apparel/Garments / Bangladesh govt slashes garment export tax by 0.5%
Bangladesh govt slashes garment export tax by 0.5%
25
Apr '14
The National Board of Revenue (NBR), Government of Bangladesh has issued a Statutory Regulatory Order (SRO) this week slashing the tax at source on all readymade garments by 0.5 percent, Dhaka Tribune reported.
 
As a result of the NBR’s decision, export-oriented knitwear and woven garments, terry towel and clothing accessories will have to pay 0.3 percent tax from the export proceeds, compared to the earlier 0.8 percent tax, the report said.
 
The relaxed tax will be applicable till June 2015, as per the SRO.
 
The decision of the Government to reduce the tax was taken by the Government as a special incentive to compensate garment exporters, who incurred heavy losses during the political unrest that prevailed in the country prior to the January 5, 2014 polls.
 
With the presence of more than 5,000 garment factories that together employ nearly 4.2 million workers, Bangladesh is currently the second-largest garment exporter in the world, next only to China.
 
During July-March 2013-14, the exports of readymade garments from Bangladesh increased by 15.15 percent to US$ 18.052 billion, as against exports of $15.676 billion made during the corresponding period of the previous fiscal, as per the data from the Export Promotion Bureau (EPB).
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search