During a pre-budget discussion at the National Board of Revenue’s headquarters in Dhaka, the Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) recommended implementing a 1 per cent flat import tax rate on raw industrial materials.
Meanwhile, the Bangladesh Ceramic Manufacturers and Exporters Association proposed the removal of the existing 15 per cent supplementary duty on local tile production and 10 per cent supplementary duty on local sanitary product production.
The LFMEAB also suggested easing the source tax burden, proposing a reduction from the current 10 per cent against export cash subsidy to 0.5 per cent on export income, considering it as the final tax instead of a minimum tax.
Chaired by NBR Chairman Abu Hena Md Rahmatul Muneem, the meeting saw the participation of other NBR officials.
These proposals aim to address concerns within the manufacturing and export sectors, striving for more favourable taxation policies to stimulate growth and competitiveness.
The initiatives highlight collaborative efforts between industry stakeholders and the government to foster a conducive business environment and drive economic progress in Bangladesh.
