Exporters have urged the government to set tax at source at 0.25% instead of the 1% proposed in the fiscal year 2017-18 budget, and to hold this rate for the next five years. The current rate of tax at source is set at 0.70% as per the statutory regulatory order (SRO) issued on August 10, 2016. “The government should consider the decision in the budget and reduce the rate to 0.25%,” said Exporters Association of Bangladesh (EAB) President Abdus Salam Murshedy on Monday. He demanded the government reduce the corporate tax for the apparel industry to 10% from the proposed 15%, to boost investment and employment generation. Abdus Salam also urged Muhith to provide garment exporters with an additional 5% cash incentive apart from the existing facilities for the next two years.

Source: Dhaka Tribune June 05, 2017 19:41 UTC