BGAPMEA leaders urged the National Board of Revenue (NBR) to cut the source tax on export proceeds from the existing 1 per cent to 0.25 per cent in the upcoming proposed budget for 2024-25 FY and continue it for the next five years.
They have come up with a written statement in front of the NBR along with other suggestions at a pre-budget discussion for the national budget for the forthcoming 2024-25 financial year at the board’s Agargaon headquarters in the capital Dhaka on 22nd February.
In a written statement, the BGAPMEA stated that TDS needs to be lowered to support the export sector in this scenario since incentives against exports will be lowered on products after Bangladesh graduates from LDC.
The BGAPMEA suggested that the NBR increase the individual tax-free income cap from Taka 3.5 lakh to Taka 4 lakh, citing the need for the revenue board to take the growing rate of inflation into account.
“Reducing personal tax burdens will motivate individuals to declare their true income, boosting the investment sector, generating new jobs, and generating more revenue,” the statement read.
The BGAPMEA also suggested banning the import of finished packaging items and garment accessories to support homegrown businesses and maintain the direct export industry’s competitiveness in global trade.
The association sought support from the Government to build and develop the high-quality garment accessories and packaging industries in the country as well.
The RMG industry has turned into a huge export market by contributing 83 per cent to the national exports due to the availability of affordable prices and the latest garment accessories and packaging products with the help of garment accessories and packaging makers, the BGAPMEA informed.
Bharat Tex Special Report 2026 
