Bangladeshi industry calls on the government to abolish taxes on garment exports
According to a report in the Financial Express on May 28, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) called on the government to cancel taxes on garment exports in the new fiscal year 2017/18 and provide additional benefits to the garment industry in the next two years. 5% cash bonus and reduction of corporate income tax from 20% to 10% to cope with the challenges faced by the garment industry in terms of industry regulation, power shortages, declining demand, falling prices, etc., maintain competitiveness, and attract new investment. In the past two years, affected by factors such as power shortages, the depreciation of the euro, and Brexit, the operating costs of Bangladesh’s garment industry have increased by 18%. BGMEA Chairman Rahman said that maintaining stable tax and trade policies is crucial to attracting investment. The Bangladeshi industry calls on the government to cancel taxes on garment exports
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