Bangla jute millers seek withdrawal of 2% source tax

BJMA feels when the domestic market is awash with polythene bags and artificial packages, the imposition of such tax will accelerate the sector's collapse.

According to the letter sent by BJMA to NBR, the price of Bangladesh jute products are higher in the global market because of this tax, resulting in the loss of competitiveness for jute items.

BJMA requested removal of the provision of presenting taxpayer's identification number during raw jute trading, according to Bangladeshi media reports.

Bangladesh, which produces an estimated 7-8 million bales of raw jute every year, earned Tk 6.59 billion from its exports in fiscal 2021-22.

Fibre2Fashion News Desk (DS)