Orion earns 15yr tax holiday on flyover proceeds

The National Board of Revenue (NBR) has decided, in principle, to offer 15-year tax holiday to Orion Infrastructure Limited on its earning from Mayor Hanif Flyover.
Officials said the board took the decision in a meeting Sunday following request of the Orion group in a bid to facilitate the BOOT (build-own-operate-transfer) infrastructure.
The major communications project would be handed over to Dhaka South City Corporation after 24 years of building and operation by the builder.
The 10-kilometre Jatrabari-Gulistan flyover has been built with a Tk 23 billion investment of the Orion group.
Among other agenda in the board meeting, the NBR members scrutinized a proposal on exempting injured freedom fighters from payment of advance income tax on registration or fitness renewal of private cars.
They suggested collecting necessary information before awarding the exemption.
Sources said the NBR members also reviewed another proposal on exemption of revenue-sharing tax to mobile-phone sector.
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