Update : 2017-03-21 01:21:06
Import of Fireproof Paint
RMG accessories makers seek duty-free facility
Country’s garment accessories manufacturers have urged the government to provide a duty-free facility in the next budget for them to import fireproof paint.
Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) also proposed a cut in tax at source to 0.5 percent from the existing 0.70 percent on the export earnings.
They also demanded a waiver in corporate tax for garment accessories and packaging industry from 35 percent to 15 percent.
The association made the demand during their budget proposals for the next budget for the 2017-18 fiscal.
Sources said the National Board of Revenue (NBR) will hold a pre-budget discussion with BGAPMEA representatives on the first week of the next month.
Expenditures of the industry like wages and transport fare have increased substantially in the recent days. So, the government should keep the rate of tax at source at a reasonable level, according to a proposal.
The business body proposed withdrawing additional responsibility of Duty Evaluation and Internal Audit Commissionerate. It also proposed increasing all existing bonded facilities.
The accessories makers said export-oriented industries like apparel get such facilities, but accessories makers do not get such incentives, which are necessary for the development of the sector.
They said although the sector is meeting the local demand for garment accessories, it is yet to get any incentive package from the government.
“The country’s export-orientated garment accessories factories are under pressure from different agencies to construct compliant factory building, for which expensive fireproof paint is needed,” said BGAPMEA president Md Abdul Kader Khan.