Bangladesh - Cash incentives for exported leather products
The Bangladesh government has recently announced that it will provide cash incentives for leather products manufactured in exporters' own factories, as per the Foreign Exchange and Policy Department (FEPD) of Bangladesh Bank.
Previously, only 100% export-oriented companies were eligible for these incentives. However, with the recent circular issued by the FEPD, now any company can receive incentives for exporting leather goods produced at their own factory.
This change comes after complaints from government agencies that many companies were receiving cash incentives despite not being completely export-oriented. It's important to note that companies exporting leather goods produced in factories owned by a different company will not be eligible for these incentives.
Since 2000, the government has been offering cash incentives to boost the export of leather goods, currently providing a 12% cash incentive against the exported products.
