The government of Bangladesh has slashed tax by 0.5 percent at source for readymade garment (RMG) export to make up for loss incurred during last years political turmoil. Tax on other exports has been reduced by 0.2 percent. The National Board of Revenue (NBR) announced the cuts on Wednesday, a day before the first anniversary of Bangladeshs worst industrial disaster that killed over 1,130 people, mostly RMG workers. Bangladesh is the worlds second largest RMG manufacturer after China. The sector contributes up to 80 percent to the countrys export earnings.
Bdesh slashes tax on readymade garment export
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