Garment exporters in Bangladesh are facing harassment from VAT and customs officials who are imposing exorbitant fines alleging document shortages, according to Mohammad Hatem, executive president of BKMEA. Fines of up to 400 % are being levied, especially in areas like Sanarpar and Rupganj upazila in Narayanganj, amounting to Tk 2 lakh to Tk 5 lakh. This situation leads to delayed truck releases, resulting in canceled work orders or expensive air shipments.
Mr. Hatem voiced these concerns at a pre-budget discussion organized by ICAB in collaboration with ERF. Economists at the event emphasized addressing inflation, foreign currency reserves, development allocation deficits, and banking sector issues in the upcoming budget. Suggestions included merging ministries, imposing more taxes on unproductive land, and reforming customs procedures to facilitate FTAs. Additionally, there were calls to avoid unnecessary projects, provide more support to small and medium enterprises, and ensure economic stability.
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