Leaders of export bodies made proposal to continue the 0.30 per cent tax at source against the export of readymade garments (RMG) for the next five years and for considering the tax paid as the final tax return. Leaders of BGMEA), BKMEA, EAB and Bangladesh Garments Accessories and Packaging Manufacturers Association (BGAPMEA) and came up with the proposal at a pre-budget meeting with the officials of the National Board of Revenue (NBR) at its conference room yesterday. They also demanded exemption on VAT on gas, water and electricity in the manufacturing units, which are used for only exporting goods. Farid Uddin, senior member of NBR, presided the meeting. The leaders of the trade bodies submitted their written proposal ahead of the announcement of the upcoming budget. BGMEA President M Atiqul Islam said the RMG sector would have to face challenges in the next few years. “So, the sector needs injection for its survival overcoming the challenges, and that is why continuation of 0.30 per cent tax at source in next five years is required,” he added. The government set 0.30 per cent taxes at source in the current 2014-15 fiscal, which was 0.80 per cent on the 10 per cent profit. The BGMEA president mentioned buyers of 220 brands could monitor all the updates including nominal cracks and faults at buildings of 1700 factories of BGMEA from abroad on www.fairfactories.org, which was developed after the Rana Plaza tragedy. “So, without compliance, nobody can run business,” Atiqul said. He also proposed for continuation of 10 per cent tax for the RMG sector till June 30, 2019. Replying to the leaders of export bodies, NBR Senior Member Farid Uddin said the proposals and suggestions placed by the businessmen would be considered. “NBR will continue to provide necessary policy support to the businesses in the future as it has been doing at present,” he added. Farid also emphasised establishing participatory relation among the regulatory bodies and entrepreneurs.
