Apparel Online Bangladesh Magazine September Issue 2018 | Page 23

BANGLADESH INSIGHT
Taxes taking toll on RMG sector!
W
ith general elections round the
corner, Bangladesh Finance
Minister recently presented the National
Budget for Financial Year 2018-19 before
the Parliament. There were expectations
that the Budget would be industry and
people-centric, considering the fact that
it’s almost time to go to the hustings, and
a popular and pro-industry budget could
go miles in deciding the electoral fate.
However, certain facets of the Budget
seem to have touched the raw nerves of
the apparel industry.
In a nutshell, corporate tax rate for
apparel manufacturers and exporters
has been hiked to 15 per cent from
existing 12 per cent, and