Monday, October 23, 2017 | ePaper

Exporters demand 3pc source tax for next five years

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Economic Reporter :
Exporters Association of Bangladesh (EAB) demanded a static source tax at 3 percent for next five years, down from the current 7 percent.
"If there is no long term tax policy, investors can't make any plan for investment, said a leader of the EAB. The association leader made the demand while speaking at an Iftar Mehfil at a city hotel hosted by EAB.
Discussing different issues of the proposed budget 2017-18, EAB president Abdus Salam Murshedy said the budget have many positive aspects, but it failed to provide any direction to create job for the every year's 2.6 million new job seekers and young educated youths.
He said the country's export sector, especially the readymade garment (RMG) sector which contribute about 83 percent of total export incomes, has been experiencing its 'worse times'.
"The growth in RMG sector's growth declined to 2.16 percent from 13 percent. This is alarming as we're losing our competitive edge against nations," said EAB leader and BGMEA vice president MA Nasir.
He said the export sector industries should get 10 percent incentives from the government to sustain the bad situation in global market.
BGMEA senior vice president Faruque Hasan said negative growth in RMG sector will have big impact on the economy as RMG shares the lion stake in export business.
The EAB alleged that many investors do not dare to set up new industries because of gas and electricity crisis.

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