A disparity in the tax rate hinders industrial expansion in the country, the prime minister’s economic affairs adviser, Mashiur Rahman, said on Tuesday. Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) organised the seminar to discuss the present status and future prospects of the sector. “Disparity at tax rate hinders the expansion of industry in country. Stressing on the rationalisation of the tax structure, he said: “I do not see any logic behind the tax disparity.”Currently, the garment accessories and packaging manufacturers pay 35% corporate tax, while the RMG manufacturers pay 12% corporate tax. BGAPMEA president Abdul Kader Khan said the Bangladesh RMG sector has been fully import dependent since its inception.

Source: Dhaka Tribune October 17, 2017 19:29 UTC