RMG sector to enjoy reduced tax for 2 more years
At present, the RMG factories having green building certification enjoy a special tax rate of 10 percent, whereas those without such certification pay taxes at a rate of 12 percent
File Photo: TBS
The readymade garment sector will continue to enjoy reduced tax rate for another two years beginning from July 1, 2020 to help it tackle the Covid-19 impact.
At present, RMG factories having green building certification enjoy a special tax rate of 10 percent, whereas those without such certification pay taxes at a rate of 12 percent.
The deadline of the Statutory Regulatory Order (SRO) allowing this special tax rates for the RMG sector is scheduled to end on June 30, 2020.
But the finance minister today proposed an extension of the time limit of the order by another two years.
"I hope our taxpayers in the RMG sector will be greatly benefitted from this tax rate reduction," said the finance minister.
