Leading exporters in the city on Sunday urged the government to provide supports instead of imposing 'tax burden' saying another 'big turmoil' is apparently coming following the fast-changing scenario in entire Europe, reports UNB.

They reiterated their call to reduce the source tax on export and keep it at least 0.6 per cent as the Finance Minister proposed 1.5 per cent source tax in the coming budget. 

The top exporters were addressing an iftar mahfil organised by Exporters Association Bangladesh (EAB) at the Sonargaon Hotel in the city. 

EAB President Abdus Salam Murshedy, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Md Siddiqur Rahman, Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) Md Saiful Islam and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) first vice president AH Aslam Sunny, among others, spoke at the event.

"It seems that the Europe experienced a tremor after the majority people in the United Kingdom voted to leave the European Union (EU)," Murshedy said mentioning that pound plummeted against all of the major currencies due to the UK public decision to the leave the European Union.

He expressed hope that the government would realise the changes and would take proper policy steps to keep export competitive in the global export market.

"We're losing competitiveness as the tax burden is increasing on us," said Saiful Islam, also involved in shipbuilding industry, mentioning that another big turmoil is coming following the Brexit.

He said the source tax on export should be kept at 0.60 per cent. "If tax burden on export is reduced, investment will increase creating more employment, boosting export. Export will also be diversified and the country will march forward."

Siddiqur Rahman said there has been no significant employment generation over the last couple of years in the sector. "We're making a turnaround now after Rana Plaza disaster now. Instead of imposing tax burden, give us policy support."

All the exporters, however, termed the government as business-friendly one and vowed to work for the countries development.

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Source: The Financial Express