Green RMG tax rate to get two-year deadline extension

Budget

TBS Report
11 June, 2020, 06:25 pm
Last modified: 11 June, 2020, 06:31 pm
RMG factories with green building certification enjoy a special tax rate of 10 percent, whereas others pay taxes at the rate of 12 percent
Photo: Salahuddin Ahmed

The government has proposed to extend the time limit of the special green-RMG (ready-made garment) tax rate by two more years, which was set to end on June 30, 2020.

The special tax rate provided by the statutory regulatory order (SRO) is a part of the green-economic initiative.

Currently, RMG factories with green building certification enjoy a special tax rate of 10 percent, whereas others pay taxes at the rate of 12 percent.

"I hope our taxpayers in the RMG sector will be greatly benefitted from this tax rate reduction," said the Finance Minister AHM Mustafa Kamal.

Related Topics

Economy

Green-RMG / Statutory regulatory order (SRO) / Green economy / Special tax rate / Budget 2020-21 / Budget 2020-21 FY / Budget Bangladesh

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