Home / Knowledge / News / Apparel/Garments / Bangla EAB seeks 0.25% export tax continuation for 5 yrs

Bangla EAB seeks 0.25% export tax continuation for 5 yrs

18
Jun '20
Pic: Shutterstock
Pic: Shutterstock
The Exporters Association of Bangladesh (EAB) has demanded continuation of source tax on export at the rate of 0.25 per cent for the next five years because of the ongoing export slowdown and global economic crisis due to the COVID-19 pandemic. The government in the budget for fiscal 2020-21 has proposed a source tax of 0.5 per cent on exports.

As many factories will shut down in the country in the next 12 months due to the pandemic, EAB president Abdus Salam Murshedy requested for an exit plan for struggling factories and demanded allocation for this in the proposed budget.

The trade body, in a press release, demanded reduced corporate tax for the leather and leather products exporters as well and scrapping of the provision of submitting value-added tax returns for the export sector. It also wants exemption from source tax on cash incentive against export, according to Bangla media reports.

It sought government support to set up a virtual marketplace with artificial intelligence for apparel products to reduce dependence on global buyers.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Shutterstock

Textiles | On 15th Jun 2021

Australia, UK agree on broad terms of trade deal

Prime Ministers Scott Morrison and Boris Johnson have agreed in...

Pic: Shutterstock

Textiles | On 15th Jun 2021

Germany passes law on corporate due diligence in rights, environment

The German parliament passed a law last week that warrants large and...

Pic: Azamat Imanaliev / Shutterstock.com

Apparel/Garments | On 15th Jun 2021

Prime Content| Revenue, profits of major garment firms in China rise in Jan-April

Revenue, profits, output, online retail sales and exports of major...

Interviews View All

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

Textile Industry, Head honchos

Textile Industry
Head honchos

There was a certain switch, but it was not 100% pandemic related

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

Kishina Daruka and Mishika Daruka,

Kishina Daruka and Mishika Daruka

Headquartered in Kolkata, India, sustainable clothing brand Ora was...

Alberto Gotti,

Alberto Gotti

Danitech was born from the will of a group of technicians to offer the...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

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

Leave your Comments


June 2021

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


Advanced Search