BGMEA seeks policy support for backward linkage industries
The BGMEA leaders called upon the revenue authorities to provide VAT exemption on products and services purchased locally to facilitate the garment industry to grow and sustain competition in the global market
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Saturday urged the National Board of Revenue (NBR) to provide facilities to the backward linkage industries and sub-contractors to help the growth of the RMG industry.
BGMEA President Faruque Hassan made the requests during his meeting with Zakia Sultana, a member (VAT and Policy) of the NBR, at her office in Dhaka.
Faruque Hassan requested the NBR to waive value-added tax on sub-contract manufacturing, as it puts subcontracting factories in financial distress.
Keep updated, follow The Business Standard's Google news channel
He also urged the NBR to allow factories that do not have bonded warehouse licences to open back-to-back letters of credit for sourcing raw materials from the local market.
The BGMEA leaders called upon the revenue authorities to provide VAT exemption on products and services purchased locally to facilitate the garment industry to grow and sustain competition in the global market.
Zakia Sultana assured the BGMEA leaders of cooperation in this regard.
Kazi Mustafizur Rahman, Commissioner, customs bond commissionerate, Kazi Farid Uddin, first secretary (VAT Policy), and Kazi Rezaul Hasan, second secretary (VAT Act and Rule), were also present at the meeting.
