Provide special cash assistance, The Government has decided in the export of garments

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Provide special cash assistance, The Government has decided in the export of garments (taritwells and specialized textiles) after the RMG sectors (readymade garments). From now on, 01% (one percent) special cash assistance will be provided to the exporters against the export of textiles.

Bangladesh Bank issued a circular on Tuesday (January 7th).

It said that it will get the benefit of shipping products from the financial year 2019-2020. Earlier, only the apparel sector entrepreneurs got this benefit. In order to avail this benefit, the rate of local value added (VAT) in the garment sector is mandatory to be at least 5% (five percent). However, the rules do not have to follow in order to benefit against export of textile products.

The facility will also apply to Type-C (Domestic-owned) companies located in specialized regions (EPZ, EZ) for export to the European Union, US and Canada.

One percent special cash assistance on ready made garments

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One percent special cash assistance on ready made garments and In the garment sector, as per the budget announcement Bangladesh Bank has issued a cash aid circular in the export sector with one percent (1%) special assistance. In the circular of the Central Bank, cash assistance has been announced for a minimum of 5 percent to a maximum of 20 percent in different sectors in the current fiscal 2019-2020. The finance minister announced a special cash assistance of 1 percent in the garment sector in the current fiscal year 2019-2020. This 1 percent special cash assistance will be available mainly to those who import raw materials under bonds, which will be exported to the United States, European Union and Canada. 





Cash Incentive Circular