The body of knitwear manufacturers in Bangladesh – the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) has recently called on the country’s Government to cut the tax deducted at source while also continuing the existing corporate tax rate for another five years.
According to reports, the Executive President of BKMEA Mohammad Hatem placed the proposals before the National Board of Revenue (NBR) during a recent meeting with the NBR at the latter’s headquarters in the capital Dhaka.
In one of its proposals, the BKMEA reportedly underlined the tax deducted at source should be slashed to 0.5 per cent from 1 per cent in 2023-24 for export-oriented garment factories while also seeking the reduced rate for five years even as it maintained the Government should continue the 12 per cent corporate tax for garment industries and the 10 per cent tax for green garment units for five fiscal years.
The trade body also wanted the same rate should be applicable while assessing other incomes and disallowable expenses.
Bharat Tex Special Report 2026 
