BTMA proposed 4 major issue to consider for upcoming National Budget

On 8th April 2021, the Honorable Finance Minister conducted a meeting with the Leaders of the Country’s Apex Trade Bodies to exchange ideas regarding the Budget. Before finalizing the budget, the discussion took place on budgetary issues through Zoom Cloud.

budgetBTMA President Mohammad Ali Khokon along with two Vice- Presidents focused mainly on four issues:

  1. To impose VAT of TK 3 /kg to all the yarn (whichever fiber it is made of) like cotton and the 5% VAT on the fabric of artificial fiber at production stage need to be exempted.
  2. To determine Tax at Source of 0.25% to encourage the export business.
  3. To re-determine the fabric tariff value at the import stage. Recently the proposals have been sent to NBR by Tariff Commission.
  4. To determine Back to back LC as the single instrument for issuing UP from Bond Commissionerate for Deemed Exporters.