Tax cuts to cheer up apparel exporters
2018-10-01 15:21:25 / Dhaka Int'l Textile& Apparel Accessories Exhibition
The government is going to cut withholding tax and corporate tax for garment exporters in what can be viewed as yet another pullback by the revenue authority from its intent to collect higher tax from the sector.
Last fiscal year, the sector earned $30.61 billion, which is 83.5 percent of the total export receipts for the year.
With a view to boosting collections the source tax for garment manufacturers was increased to 1 percent from 0.7 percent and corporate tax raised to 15 percent in the budget for fiscal 2018-19.
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Source From: The Daily Star
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