The apex garment makers’ body in Bangladesh, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), while underlining increasing tax at source for apparel exports will make things ‘very difficult’ called upon the Government to not raise tax at source for apparel exports and retain it at 0.5 per cent.
“We earnestly request the Government to retain the 0.5 percent tax at source against exports for the next five years to ensure the industry stays out of danger in these times of crisis. If we can increase exports, it will boost revenues without raising tax rates. This will benefit the economy on the whole,” reportedly, maintained the garment makers’ body even as it expressed hopes to take export earnings up to US $ 41 billion in the 2021-22 financial year, improving from last year’s US $ 31.45 billion.
