Apparel entrepreneurs have urged the government to give policy support to the ready-made garment (RMG) industry to retain its competitiveness in the global market amid setback by the on-going pandemic.
Led by Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Faruque Hassan, its executive members made the call during a meeting with NBR chairman NBR Chairman Abu Hena Md Rahmatul Muneem at latter’s office in the capital on Wednesday.In the meeting the BGMEA delegation urged the government to continue the existing 0.5 percent source tax for RMG sector for the next five years.
They requested that the rate of the income tax deduction on incentives be reduced from 10 percent to zero percent and keep it effective for next five years.
BGMEA also called on the NBR to keep the corporate tax rate at 10 percent for green factories and 12 percent for other factories for the next five years.
Senior Secretary Abu Hena Md Rahmatul Muneem supported the proposal of joint working committee formation and assured the delegation of considering the proposals placed by BGMEA with due importance. BGMEA president Faruque Hassan proposed forming a joint working committee involving representatives of NBR and BGMEA to address tax, value added tax, and customs related issues being faced by the RMG industry.
The delegation includes -- former BGMEA Presidents Abdus Salam Murshedy, MP, and Md. Shafiul Islam Mohiuddin, incumbent first vice president Syed Nazrul Islam, vice presidents Md Shahidullah Azim, Nasir Uddin and Rakibul Alam Chowdhury, directors Asif Ashraf, Mohammed Meraj-E-Mostafa (Kaisar) and former director Munir Hossain.
BKMEA first vice president Mohammad Hatem, NBR member Md Alamgir Hossain, Dr Abdul Mannan Shikder and Masud Sadiq were also present in the meeting.