In a bid to help the garment industry deal with the current economic stress, apparel exporters in Bangladesh have sought a host of tax benefits including bringing down tax deducted at source and withdrawing income tax levied on cash incentives in the upcoming fiscal year of 2023-24.
The President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Faruque Hassan made the proposals in this regard at a meeting with the National Board of Revenue (NBR) recently.
Arguing that owing to the higher tax deducted at source, exporters were finding it increasingly difficult to operate business amid the global crisis, the BGMEA said the proposals were aimed at retaining the growth in apparel exports and the country’s competitiveness in the global market even as it maintained the garment sector was facing a new challenge in face of the deep global uncertainty that has been caused by the Russia-Ukraine war while adding the apparel industry was losing competitiveness because of global higher inflation, a hike of the prices of fuels, gas, electricity, yarn, chemicals as well as a spike in container freight costs.
Bharat Tex Special Report 2026 
