The association demanded the reinstatement of the 12-per cent cash incentive for exports following a decline in shipments in recent years and a rebate on source tax on export cash subsidy, currently set at 10 per cent.
It also called for tax rebate on import of spare parts and essential machinery, similar to the facilities available to the textile sector, to boost exports and reduce business costs.
The demands were conveyed at a pre-budget consultation organised by the National Board of Revenue (NBR).
Meanwhile, the Bangladesh Tanners Association urged the government to reinstate its 10-per cent cash subsidy. It also requested a reduction in tax deduction at source, currently at 3 per cent, by classifying the leather sector as part of the agricultural industry.
ALCHEMPro News Desk (DS)
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