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18 January, 2019 00:00 00 AM / LAST MODIFIED: 17 January, 2019 10:11:05 PM
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Reduced tax at source for RMG sector effective from Jan 3

BSS, Dhaka
Reduced tax at source for RMG sector effective from Jan 3
An employee busy working at a RMG unit in the capital. Independent file photo

The reduced tax at source for the export-oriented RMG industries has become effective from January 3 this year, said the National Board of Revenue (NBR).

The Tax Administration at the very beginning of the year issued a Statutory Regulatory Order (SRO) reducing the tax at source at 0.25 per cent for the hundred percent export-oriented RMG industries.

But, the circular did not clarify from when this reduced rate of tax at source would become effective causing confusion to some extent.

Under the circumstances, the revenue board issued the order clarifying that the reduced rate of tax at source would become effective from January 3.

Talking to the news agency, a senior official of the income tax department said, “Since the banks wanted to know from us from when the reduced rate would become effective, we’ve verbally informed them to make effective this rate from January 3. We’ll issue letters in this regard to the banks concerned very soon,”

Earlier on January 3 this year, the tax at source in the export-oriented RMG sector was reduced at 0.25 per cent from the previous 0.6 percent in a bid to enhancing the competitive edge of the RMG sector.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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