Bangladesh Jewellers Samity President Ganga Charan Malakar on Tuesday urged the government to reduce the value added tax (VAT) to 2% from the proposed 5% to help the sector flourish.
He also urged the National Board of Revenue (NBR) authorities to extend the gold legalizing facility by 10 days to July 10.
BAJUS General Secretary Dilip Kumar Agarwala called the NBR not to harass jewellers in future by any means.
"We have declared our gold stock, legalized by paying taxes against the undisclosed gold as per the government’s instruction," he said in a program on the concluding day of gold fair at a hotel.
Agarwala demanded that an economic zone and a training institute be set up for jewellery sector.
He said there remained huge opportunities for exporting ornaments from Bangladesh to global markets.
Minister Tipu Munsi in his speech assured the gold traders of revising the proposed VAT rate for the sector.
He appreciated the demand for an economic zone and a training institute, and assured them of undertaking initiative within a month.
NBR Chairman Mosharraf Hossain Bhuiyan also talked on the issues at the event.
He said he would talk to Prime Minister Sheikh Hasina on revising the proposed VAT rate on jewellers.
Though the gold fair ended on Tuesday, the opportunity for legalizing gold, diamond, silver and others precious metal will remain till June 30.
The government issued a gazette notification in this regard on May 28.
NBR Member Kanon Kumar Roy said jewellers would be able to legalize their undisclosed jewellery items paying taxes in their respective tax zones.