At the National Board of Revenue (NBR) pre-budget meeting Bangladeshi apparel manufacturers have urged the country’s government to include a deduction of 0.3 per cent source tax on CM against FOB and 10 per cent income tax till 2019. The exporters have once again demanded that the tax at source should be deducted only on CM (cutting and making) instead of FOB as companies open back to back L/C (letter of credit) for importing raw materials worth 70 to 80 per cent of the FOB price, explained Atiqul Islam, President, BGMEA. BGMEA has also put forth demands to include duty- free import of fire proof colour coating for pre-fabricated building materials and other energy saving equipments to help ensure a safe and environment-friendly industry.
