BB declares new slabs of cash export incentives
Bangladesh Bank has declared new export incentives in different slabs for the current financial year aiming to boost up exports and diversify new products in the international market.
Foreign Exchange Policy Department of the central bank declared this through issuing a circular on Sunday.
As per new slab a 4 per cent cash incentive has been fixed on readymade garments instead of existing duty bond and duty draw back and the same incentive has also fixed on all sub sectors related to RMG sector.
To diversify exports 4 per cent cash incentives has also been fixed against exports of such new products excepting markets in US, Canada and European Union.
The highest 20 percent cash incentive has been fixed on exports of agricultural products, Agro-processing, diversified jute export, Active Pharmaceuticals Ingredients, 100 per cent Halal Meat, potatoes, jute particles boards, Agor and Accumulator Battery export.
The lowest 1 per cent cash incentive was fixed readymade garment as special incentives and 2 per cent on as additional incentive for RMG export in Euro zones.
Among other slabs 10 per cent is on frozen shrimp, crust and finished leather from Savar factories with effluent treatment plant, plastic products, locally manufactured paper, IT enables services, ship export, pharmaceuticals, jute fabrics and handicrafts, photovoltaic module, motor cycle, few chemical item, Razor and Razor Blades, ceramics, cap and hats, galvanized sheet/coil and consumer electronics.
A 15 per cent cash incentive was fixed on export of light engineering products, leather goods, synthetic fabrics and furniture.
The BB has fixed 12 per cent cash incentives on jute yarn and twine and a 2-7 per cent on different frozen fishes.