EAB wants source tax on exports cut to 0.50 pc | daily-sun.com

EAB wants source tax on exports cut to 0.50 pc

Sun Online Desk     2nd July, 2017 06:51:10 printer

EAB wants source tax on exports cut to 0.50 pc

Exporters Association of Bangladesh (EAB) on Sunday requested the government to reduce the source tax on all exportable products, including garments, leather goods and frozen foods, and fix it at 0.50 percent instead of 1 percent.

 

The top exporters’ body of the country made the appeal through a statement signed by EAB President Abdus Salam Murshedy published Sunday.

 

"We request the government to reduce the source tax on all exportable products, including garments, leather goods and frozen foods, and fix it at 0.50 percent instead of 1 percent," Murshedy said in the statement.

 

However, they expressed its gratitude to Prime Minister Sheikh Hasina for suspending the new VAT law for the next two years and reducing the excise duty on small bank deposits.

 

The EAB also expressed disappointment over a number of measures in the newly passed national budget for the fiscal year 2017-18 which what they said will discourage industries.

 

Earlier, the government reduced the excise duty on small bank deposits amid much criticism keeping the proposed rates for big amount deposits introducing new slabs.

 

Meanwhile, implementation of the much-talked-about VAT and Supplementary Duty Act 2012 was suspended for the next two years amid demands from various quarters.

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