Home breadcru News breadcru Accessories breadcru BGAPMEA seeks support in budget for Bangladesh RMG accessories sector

BGAPMEA seeks support in budget for Bangladesh RMG accessories sector

16 Jun '24
1 min read
BGAPMEA seeks support in budget for Bangladesh RMG accessories sector
Pic: Adobe Stock

Insights

  • The Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association has demanded final fixing of source tax at 0.5 per cent for five years.
  • It demanded withdrawal of the proposed 200-400 per cent penalty for HS code-related errors and the proposed TK 0.1 million new bond licence fee, and revising the renewal fee to TK 10,000 annually.
The Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) recently requested the government to fix source tax at 0.5 per cent for five years and make it a final settlement.

It demanded withdrawal of the proposed TK 0.1 million new bond licence fee and revision of the renewal fee to TK 10,000 annually, down from TK 50,000 and TK 5,000 respectively now.

It also demanded withdrawal of the proposed 200-400 per cent penalty for HS code-related mistakes, according to domestic media reports.

BGAPMEA’s complaint is that the proposed budget lacks measures to ensure a business-friendly environment.

Association president Mohammad Shahriar addressed a post-budget press conference in Dhaka.

ALCHEMPro News Desk (DS)

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