DCCI welcomes tax holiday extension, other proposals

Dhaka Chamber of Commerce and Industry (DCCI) on Saturday welcomed extension of tax holiday facilities proposed in the national budget for 2014-15 fiscal. In unveiling the budget in parliament on last Thursday Finance Minister AMA Muhith proposed up to 10 years of tax exemption for the under-developed areas. The proposed budget aims to borrow Tk 312.21 billion from local banks to meet the budget deficit. The DCCI thinks that it may curtail the credit flow to the private sector. In its reaction, the trade body said the proposed budget allows any donation or contribution in the government fund for natural calamities to be treated as CSR (corporate social responsibility) activities and hailed this initiative. DCCI appreciated these proposals and thinks this will encourage the country’s export sector, according to a news agency.