BGMEA urges NBR to provide policy supports

Bangladesh Garment Manufacturers and Exporters Association has urged the National Board of Revenue to provide policy supports related to customs, VAT and income tax for the RMG industry to help the sector recover from the ongoing effects of Covid-19.

A BGMEA delegation led by its president Faruque Hassan made the request during a meeting with NBR Chairman Abu Hena Md Rahmatul Muneem at NBR office in Dhaka on Wednesday.

The delegation called on the NBR for assistance in its fight to retain the readymade garment industry’s competitiveness in the global market.

It also urged the government for continuation of the existing 0.5 percent source tax for RMG sector for the next five years.

BGMEA also called on the NBR to keep the corporate tax rate at 10 percent for green factories and 12 percent for other factories for the next five years.

BGMEA proposed forming a joint working committee involving representatives of NBR and BGMEA to address VAT, tax and customs related issues being faced by the RMG industry.

NBR Chairman Abu Hena Md Rahmatul Muneem supported the proposal of joint working committee formation and assured the delegation of considering the proposals placed by BGMEA with due importance.

The trade body delegation included among others former BGMEA presidents Abdus Salam Murshedy and Md Shafiul Islam Mohiuddin.