Bangladesh Jute Textile Association calls on the government to reconsider the tax increase proposal
The chairman of the Bangladesh Jute Textile Association (BJSA) called on the government to reconsider the tax proposal to increase the tax on jute textile exports from 0.4% to 1.5%. He said that a 300% tax increase would severely hit Bangladesh’s jute exports and suggested that the government consider increasing taxes in the fields of electricity, gas and other infrastructure. In the first 10 months of the 2010-2011 fiscal year, jute textile exports have earned US$410 million in foreign exchange, compared with only US$255 million for the whole of the previous year. There are 73 jute textile factories in Bangladesh and 65,000 people are engaged in this industry.
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