The registration cost of land and flat would come down as the National Board of Revenue (NBR) has changed the tax-calculation method and reduced the deed value of land and flat amid demands from the stakeholders concerned.
It has also extended the tenure of tax exemptions earlier provided to the private coal-fired power plants as well as foreigners working in the Dhaka Elevated Expressway (DEE) project being implemented under Public-Private Partnership (PPP) initiative.
The NBR issued three separate Statutory Regulatory Orders (SROs) in these regards on Wednesday.
For land and flat registration, the NBR has amended the existing SRO by incorporating Mouza-based rates, instead of area-based rates, aligning with the land registration office records.
The tax rate has been kept unchanged at 8.0 per cent of land prices, but lowered (tax on) the Katha-wise deed value of land.
Highest amount of tax on deed value of land has been lowered by Tk 0.5 million for the areas of Gulshan, Banani, Motijheel, Dilkusha, North South Road, Motijheel extended area, and Mokhakhali.
Meanwhile, the coal-fired power plant that has failed to start commercial operation by June 30, 2023, would get another year to avail the tax exemption until June 30, 2024.
Earlier, the NBR had offered a tax exemption facility for both power plant producers and foreign workers of the DEE project until June 30, 2023.
Foreign workers of the elevated expressway project would enjoy exemption from payment of taxes on their income derived from salary and allowances from July 1, 2023 to June, 2026.
The private coal-fired power generation company that has signed contact with the government within June 30, 2020 and would be able to start commercial production by June 30, 2024 will be entitled to tax exemption on its business income up to 15 years, starting from the date of their commercial production.
Foreign workers in the power plant would also enjoy tax exemption for three years, starting from the day of their arrival in Bangladesh.
Tax would also be waived on the interest income of the foreign loans, payable royalties, technical assistance, know-how, etc., capital gains derived from transfer of shares by the power generation company.
However, the companies will have to preserve the accounts and comply with the rules of Private Sector Power Generation Policy of Bangladesh-1996.
doulotkter11@gmail.com
© 2025 - All Rights with The Financial Express
