>>
Home / Knowledge / News / Apparel/Garments / Bangla garment makers seek full waiver of source tax
Bangla garment makers seek full waiver of source tax
30
Apr '18
Bangla garment makers seek full waiver of source tax
Bangladesh garment makers have sought full waiver of source tax on export receipts for three years, claiming the initiative would help them reach $50 billion in shipments by 2021. Representatives of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) recently met senior officials of the National Board of Revenue (NBR) in this regard.

Tax authorities now collect 0.70 per cent tax on total export proceeds from major export items, including garments.

BGMEA president Siddiqur Rahman told NBR officials that the amount of source tax collection from apparel shipment, which is not more than taka 2,000-2,500 crore on export receipts of $30 billion, is not a big amount.

As the next budget would be worth taka 400,000 crore, there would be no big impact if the source tax is not collected from garment exporters considering the sector's contribution to direct and indirect job creation, he added.

Garment shipments rose 9 per cent year-on-year to $22.83 billion in the first nine months of the current fiscal, according to official data. The BGMEA also demanded a reduction of corporate tax to 10 per cent for all exporters from the current rate of 12 per cent.

A section of garment exporters, including non-existing firms, are importing fabrics duty-free and are selling them in the domestic market, which is hurting the industry, according to Mohammad Shamsul Alam of the Bangladesh Cloth Merchant Association.

The Bangladesh Knitwear Manufacturers and Exporters Association demanded fixation of tax at 0.50 per cent only on cutting and making instead of the source tax on export proceeds.

The Leather goods and Footwear Manufacturers & Exporters Association of Bangladesh called for a reduction of tax on technical assistance and royalty fees. It also demanded duty-free benefit for importing fire and electrical items to ensure fire safety at factories. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 26th Jan 2022

Vietnam-US trade hits $111.56 bn in 2021

Vietnam-US trade hit $111.56 billion in 2021, up by nearly $21...

Pic: Shutterstock

Textiles | On 26th Jan 2022

Turkey using less coal, hydropower; use of renewables, gas up: Ember

The use of coal and water for energy in Turkey reduced in 2021, while ...

Pic: Bangladesh Parliament Secretariat/Facebook

Apparel/Garments | On 26th Jan 2022

Trade Organisation Bill, 2022, introduced in Bangladesh parliament

The Trade Organisation Bill, 2022, aimed at allowing foreign traders...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Led by MMF, Indian apparel exports likely to double in next 3 years

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

Raiyan Islam,

Raiyan Islam

Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Shivendra Nigam,

Shivendra Nigam

Delhi-headquartered Cantabil Retail India Ltd was founded by Vijay Bansal...

Serkan Gogus, Mogul Nonwovens

Serkan Gogus
Mogul Nonwovens

Mogul is a global player ranked among the top 40 nonwoven producers in the ...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Ester Kubisz, Label - Ester Kubisz

Ester Kubisz
Label - Ester Kubisz

Ester Kubisz, a London-based designer and founder of her eponymous label,...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

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

ESTEEMED CLIENTS

Tory Burch Hong Kong Ltd
Vianney Textil Hogar S.A. De C.V.
NITI Aayog
Boardriders Asia Sourcing Limited
Recron Polyester from Reliance Industries Limited
J ;& P Coats
Chico’ FAS
Splash
Groz-Beckert East Asia LLP
PVH Corporation
Cat Tuong Real Estate Group Joint Stock Company
Esprit Europe Services GmbH
Gloria Jeans
Green Fibre
International Textile Manufacturers Federation
Sainsbury's Argos Asia Limited
KAS Direct Sourcing
Arvind Limited
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Hirdaramani International Export Private Limited
Gokaldas Exports Limited
Sateri (Jiujiang) Fiber Co.,Ltd
Restoque S.A.
Rayonese Textile Inc., Division de Culp Inc.
Chori Company Limited
Maceton Limited
Lululemon Athletica Inc
Guess Europe Sagl,
THE BOMBAY DYEING ;& MFG.CO. LTD
Decathlon
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
T.T. Limited
IKEA of Sweden AB
Calvin Klein
Reiter India Private Limited
John Varvatos
Babyshop
Alix Partners
Under Armour Global Sourcing Ltd
Huntsman (Singapore) Pte Ltd
Vardhman Textile Ltd
Bluestem Global Sourcing Limited
Varner AS Retail
Amazon China
Target Corporation (MN)
SHAHI Exports Pvt Ltd
TESCO INTERNATIONAL SOURCING LIMITED
MAS Active / MAS Kreeda / MAS Bodyline
Seasalt Limited
SYNERGIES HONG KONG LIMITED
Page Industries Limited (Bangalore)
Sportswear Company Spa
BIANCA
Hela Clothing Pvt Ltd
Brandix Lanka Limited
Midas Clothing Limited
Asos
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
BIMBA ;& LOLA SL
Tchibo GmbH
LC Waikiki
Lacoste (Wanchai)
Alison Hayes Romania
Desigual - ABASIC, S.A.
Aquarelle Clothing Limited
Benetton Group
G-Star Raw C.V.
KIABI
Gatsby Africa
Lenzing Aktiengesellschaft
OVS Hong Kong Sourcing Ltd.
Sportmaster Ltd.
H;&M Hennes ;& Mauritz (Far East) Ltd
Walmart
The LYCRA Company Singapore  Pte. Ltd
Puma
Tommy Hilfiger
Rosset ;& Cia Limited
Grasim Industries Limited
Phong Phu international JSC (PPJ)
Gap International Sourcing Limited
Helly Hansen Far East Ltd
Permoda(Koaj/Armi/Pronto/Bkul)
Lifestyle
The Top Form Brassiere Manufacturing Company Limited
Lisa S.P.A.
Etam Group Strategy Hong Kong Limited
Landmark Group
Eastman Chemical Company
Aramark Uniform ;& Career Apparel, LLC

January 2022

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


Advanced Search