BKMEA seeks 10pc cash incentive on exports
The Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) has demanded a 10 per cent cash incentive on export receipts for another two years.
If a garment exporter uses locally made yarn and fabrics to make garment items, they might be eligible for the money incentive on export earnings, according to the BKMEA's budget proposal fiscal 2020-21 to the National Board of Revenue the other day.
It also needed 4 per cent cash incentive if export-oriented garment items are made from imported raw materials.
Mohammad Hatem, vice-president of the BKMEA, urged the government to wthhold the tax at source at 0.25 %.
A lot of small and medium entrepreneurs could be driven out of businesses due to the global coronavirus pandemic. So, the government should chalk out an exit arrange for this group of businesses in the upcoming budget, he said.
