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Friday, June 19, 2015, Ashar 5, 1422 BS, Ramadan 1, 1436 Hijr

EAB demands 0.3 pc source tax for apparel exports
Staff Correspondent
Published : Friday, 19 June, 2015,  Time : 12:00 AM,  View Count : 10
The Exporters Association of Bangladesh (EAB) demanded on Thursday that the government remain static on 0.3 per cent source tax for apparel exports, as it was in the outgoing fiscal year (2014-15.
At a press conference at BGMEA conference hall in the city, EAB President Abdus  Salam Murshedy raised the demand while requesting the Finance Minister not to implement the 1 per cent tax at source on readymade garment (RMG) exports, as proposed in the new budget for FY 2015-16.
BGMEA's Second Vice President SM Mannan Kochi, Vice President (Finance) Reaz Bin Mahmood and FBCCI Senior Vice President Shafiul Islam Mohiuddin were present at the press conference.
The exporters' trade body has also raised objections to the proposed rise in the rate of source taxes for other exportable items.
"Such tax rise will adversely affect the current flourishing export scenario. So, we are requesting (the government) to bring down the tax at source to 0.3 percent for all exported goods. ," Murshedy said.
The EAB chief also demanded extension of tax rebate facilities of 10 per cent corporate tax for the export sector for another five years until 2019 and withdrawal of value added tax on the purchase of local raw materials.
Murshedy pointed out that business is not in a good shape now as export growth is on the decline due to various challenges. "This is the high time we need support from the government for the sake of business and economy, " he added.
He said some major exports have witnessed a significant decrease in growth till May-June of 2015. Frozen foods industry saw a 20 per cent slump in growth and  shrimp 17 per cent, leather 35 and knitwear 6 per cent.

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