Businesses seek favourable tax measures

FE Team | Published: April 03, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

FE Report
Businesses have sought favourable tax measures in the next budget to help the local industries survive and grow with the fiscal support.
Oil and gas sector, printing and publishing industry, sweetmeat manufacturers and advertising sector stakeholders placed their respective demands in a pre-budget meeting at the National Board of Revenue (NBR) Wednesday.
NBR chairman Ghulam Hussain chaired the first day of month-long pre-budget meetings to prepare participatory tax policies for FY 2014-15.
CNG pump owners association and CNG conversion owners association urged NBR not to impose new tax on the sector.
Representative of the association Alamgir Khan said the environment-friendly sector is already facing difficulties to survive, and many of the CNG pump owners have shut their units.
"The government is actively considering imposition of tax at 0.50 per cent on income of the sector and slap Advance Income Tax (AIT) and Advance Trade VAT (ATV) on import of its machinery, which will affect the industry," he said.
In the meeting, the NBR chairman came down heavily on solar panel selling companies for installing substandard panels and poor customer services.
"Solar panel companies are enjoying tax benefit, but they can't provide quality service."
The companies are deceiving consumers by charging higher price against their Chinese products, claiming those imported from developed countries. But the taxmen in a study found that only a small portion of solar systems were imported from Germany or Italy, he added.
Solar and renewable energy association representative Dipal Barua, however, sought tax benefit to ensure power supply to the country's common people.
Sweets manufacturers association secretary general Aminur Rahman proposed imposition of 6.0 per cent VAT instead of existing 15 per cent and VAT waiver at production stage of their items.
Advertising agencies association president Ramendu Majumder proposed reduction of VAT on commission of the sector in two phases.
Publishing industry representative Osman Gani sought waiver of tax on donation to libraries and reduction of tax on import of paper.
He, however, expressed his concern over not seeing any reflection of their proposals in the budget.
The industry insiders also demanded imposition of higher duty on import of foreign writers' books in Bangladesh.
Bangladesh Paper Mills Association president Mustafizur Rahman urged to save local paper industry through effective fiscal measures in the budget.
Textbook publishing and marketing association representative Amin Hilali, periodicals publisher Dr Shahidullah Ansari, printing industry representative A F M Shah Alam, Bangladesh Sugar Refinery Association, Bangladesh Paper Importers Association, Bangladesh Bread Biscuit and Confectionary Manufacturers Association, and Bangladesh Photographic Association also placed their respective budget proposals in the meeting.
In the programme, the NBR chairman assured of considering the proposals in the next budget.
NBR member Farid Uddin, Syed Aminul Karim, Jahangir Hossain, budget coordinator Abdus Samad Al Azad, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) adviser Manzur Ahmed, and FBCCI additional secretary Shah Abdul Kahleque attended the pre-budget meeting, among others.