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Related Keywords: Abdul Matlub Ahmad, Bangladesh Garment Manufacturers and Exporters Association., garment makers in Bangladesh, garment warehouse in Gujarat, garment warehouse in west Bengal, President FBCCI

According to Abdul Matlub Ahmad, President FBCCI, garment makers are no longer looking to set up warehouse in Gujarat but looking at West Bengal due to its proximity to Bangladesh. Abdul Matlub, who was lobbying the government for warehousing space in Gujarat, stated that facility in Gujarat will not be beneficial for Bangladesh due to the long distance. Further, the government is more interested in allocating land for setting up factories, rather than warehousing stated Siddiqur Rahman, president of Bangladesh Garment Manufacturers and Exporters Association.

Related Keywords: Bangladesh Garment Manufacturers and Exporters Association, Bangladeshi taka, corporate tax in Bangladesh, Garment Exporters, garment imports in Europe, garment makers in Bangladesh, garment sector of Bangladesh, garments exports from Bangadesh to Europe, tax for textile industry, textile sector

In order to help exporters upgrade factories and boost investments, government of Bangladesh is set to revive the option of reduced corporate tax rate for the garment sector.

From fiscal year 2005-06 till 2013-14, the sector paid corporate tax at a reduced rate of 10 percent.

However, this provision was expired on 1st July, 2014 and the government did not extend it again, meaning the sector paid tax at the 35 percent rate in fiscal 2014-15.