Muhith expands corporate tax benefits for garment makers
Release Date: June 28, 2017
The government has expanded corporate tax benefits for garment exporters, taking the rate further down to 12 percent from Finance Minister AMA Muhith's proposal for a reduced rate of 15 percent.
Muhith announced the new tax measure in parliament on Wednesday.
Garment makers had faced 20 percent corporate tax in the outgoing fiscal year.
For green factories, the corporate tax will now be 10 percent, down from 14 percent Muhith proposed in the new budget in parliament on Jun 1.
On the other hand, tax at source for the garment industry will rise to 1 percent from 0.7 percent now.
Source From: bdnews24.com
- The next hot spot for apparel sourcing August 8, 2018
- India doubles import tax on textile products, may hit China August 7, 2018
- Green factories can give garment exporters another edge: BKMEA August 3, 2018
- Bangladesh remains the second biggest apparel exporter August 2, 2018
- ‘Bangladesh’s apparel industry needs an urgent business transformation plan to remain relevant’ July 25, 2018