Bangladesh

The Bangladesh Readymade Garment Manufacturers and Exporters Association (BGMEA) is pushing the government to withdraw the “tax at source” for the industry over the next 2 fiscal years and asking for a reduction in the corporate tax rate to 10% from the current proposal of 15%. BGMEA officials say the moves are necessary to ensure the ongoing health of the industry and to help it stay globally competitive. The group says that global events like the devaluation of the Euro and the “Brexit” decision have driven their costs up. (Fibre2Fashion)