In addition, the government has also reduced the corporate tax rate from 15% to 12% for apparel manufacturers in FY19. According to the new SRO, 0.6% tax at source on all exports except jute products will be effective from July 1, 2018, to June 30, 2019. Meanwhile, the corporate tax rate for manufacturers and exporters of knitwear and woven products will remain at 12%. Owners of factories which have been internationally certified as green buildings will have to pay 10% corporate tax. Issues such as a new wage structure and improvements in compliance and safety were taken into consideration when lowering the corporate tax and tax at source rates, he added.

Source: Dhaka Tribune September 10, 2018 16:52 UTC