Dhaka, March 10 -- Source taxes on leather-and leather-goods exports are going to be halved to help the sector meet high-cost compliance precondition of buyers, as export diversification comes under government's top priorities.

The National Board of Revenue (NBR) may cut the tax to 0.5 per cent from the existing 1.0 per cent on export earnings from leather and leather goods. The pared-down taxing rate will remain valid until June 30, 2025, sources said.

Already, the revenue board has received the go-ahead from the Finance Minister to cut the tax rate only for leather-and leather-goods exporters.

They have said the decision has been taken following directive of Prime Minister Sheikh Hasina to facilitate export diversification-one of pri...