In a recent meeting with leaders from major trade organisations, Finance Advisor Salehuddin Ahmed has committed to addressing the issues faced by traders regarding customs procedures in the upcoming budget for the fiscal year 2025-26. The advisor emphasised the need to strengthen the tax system and enhance revenue collection, while Parvez raised concerns about the capacity of the garment sector. The proposal also called for income tax exemptions on garment export incentives, a more business-friendly taxation policy, and a separation of lawmakers from implementers to create a taxpayer-friendly income tax framework. Furthermore, BKMEA called for the withdrawal of the 3 per cent tax on synthetic yarn and the removal of additional taxes on raw materials. The discussions reflect a commitment from the finance ministry to support the growth and sustainability of Bangladesh’s vital garment sector while addressing the operational challenges faced by traders.

Source: bd News24 March 21, 2025 16:27 UTC