Hinting at no major change in the upcoming national budget Finance Minister AMA Muhith on Thursday said that the ongoing measures in the revenue collection will continue in the next fiscal.
“This is election year. No new initiative is possible to take in the new budget”, he said while addressing the 39th consultative meeting of the National Board of Revenue (NBR) at Sonargaon Hotel in the city, jointly organised by NBR and Federation of Bangladesh Chambers of Commerce and Industries (FBCCI).
The FBCCI demanded to increase the income tax waiver limit to 350,000 from the existing limit of Tk 250,000 and reducing the corporate tax by 2.5 percent. Corporate tax limit now exists from 25-35 percent for different categories.
With FBCCI president Shafiul Islam Mohiuddin in the chair, the function was also addressed by about 50 representatives from different trade bodies and business chambers across the country.
The Finance Minister said the government will lay special emphasis on the agro-processing and SME sector.
Observing that agro processing sector has huge potential in our country, he said Bangladeshi entrepreneurs have been doing better in the value addition business.
“We have significantly done well in readymade garment sector where value addition was significant”, he said adding similarly agro-processing has advanced a lot and there is scope to go further.
He also positively responded to the demands for reduction of taxes for e-Commerce sector, local bread and biscuit manufacturing industries, poultry sector, and import of stone and hard rock for road constructions.