File photo: Female workers seen working at a RMG factory in Dhaka strong>Mahmud Hossain Opu/Dhaka TribuneThe revenue board issued the order clarifying that the reduced rate of tax at source would become effective from January 3The reduced tax at source for the export-oriented RMG industries has become effective from January 3 this year, said the National Board of Revenue (NBR). The Tax Administration at the very beginning of the year issued a Statutory Regulatory Order (SRO) reducing the tax at source at 0.25% for the hundred% export-oriented RMG industries, reports BSS. But, the circular did not clarify from when this reduced rate of tax at source would become effective, causing confusion. Under the circumstances, the revenue board issued the order clarifying that the reduced rate of tax at source would become effective from January 3. Earlier on September 5 last year, the tax at source for exports in the RMG was reduced at 0.6% from 1.0%.

Source: Dhaka Tribune January 17, 2019 16:41 UTC