The Bangladesh Bank recently said cumulative cash incentives, up to 12 per cent, against apparel exports will not be reduced this fiscal. Apparel exporters get up to three types of cash incentives, out of four, but an earlier directive capped the cumulative cash incentives at 10 per cent. That directive issued in 2016 has been scrapped, the bank clarified.
Apparel exporters get 4 per cent cash incentive as an alternative to duty bonds and duty drawbacks, 4 per cent for apparel products export for the small and medium industries, 4 per cent for export of new textile and garment products and expanding export of textile items to new markets, markets other than the United States, Canada and the European Union, and 2 per cent cash incentive for exports of apparel products to the European Union (EU) market in addition to a 4 per cent cash incentive.The Bangladesh Bank recently said cumulative cash incentives, up to 12 per cent, against apparel exports will not be reduced this fiscal. Apparel exporters get up to three types of cash incentives, out of four, but an earlier directive capped the cumulative cash incentives at 10 per cent. That directive issued in 2016 has been scrapped, the bank clarified.#
In September 2018, the government announced cash incentives in favour of exporters of 35 products, including apparel, for the current fiscal, according to Bangla media reports. (DS)
Fibre2Fashion News Desk – India
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