Currently, the apparel sector pays 12% corporate tax, while it is 35% for the accessories and packaging makers. Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) made the call reacting to the proposed budget for fiscal year 2020-21, announced in parliament on Thursday. But our corporate tax rate is higher than other direct export-oriented sectors, including the RMG sector,” said BGAPMEA president Abdul Kader Khan. "For fiscal year 2020-21, our corporate tax rate is set at 32.5% from 35%, while the rate is set at 12% for exporters of apparel goods, and 10% for apparel manufacturers with certified green factories, said the business leader. "To fight the impact of the Covid-19 pandemic, we are requesting the government set the corporate tax for garment accessories and packaging manufacturers at 12%," said Kader.

Source: Dhaka Tribune June 14, 2020 15:33 UTC