A BGMEA team, led by its president Shafiul Islam Mohiuddin, made the proposals at a meeting with Chairman of National Board of Revenue (NBR) Dr Nasiruddin Ahmed.
They also demanded duty-free imports of all kinds of machinery, spares parts, safety instruments and equipment and building construction materials used for the manufacturing purpose.
The BGMEA president said small and medium size garment owners, who run their business in rented space, are facing more problems as they have to pay additional 9.0 per cent VAT (Value Added Tax) on rented space.
He said if the government withdraw the tax imposed on the rented space then the RMG sector will be able to contribute more to national economy.
The government has already reduced the VAT and fixed the same at 9.0 per cent from 15 per cent following requests of the RMG exporters.
However, the BGMEA leaders claimed that their margin of profit is declining due to price hike of furnace oil, power and falling price of exported items.
BGMEA also urged the government to disburse loans with zero interest among the garments entrepreneurs to build dormitories for the garment workers.
The NBR chairman assured them of considering the issues while preparing of the upcoming budget.
Vice-President of the association SM Mannan (Kochi), Director Shahidullah Azim, SK Atiar Rahman Dipu, A Razzak Sattar and Faizun Nabi Chowdhury were present at the meeting.
News Source: FE, Friday, May 6, 2011
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