Tax waiver on poultry sector set to go

The government is withdrawing the tax exemption facility for poultry industries from the next financial year amid repeated appeals from the industry operators for extending the same.
The existing tax exemption facilities for the country's poultry industry will expire with the end of the FY '15.
The poultry sector in different meetings with the government agencies demanded extension of the facility until 2025.
But the budget proposed 3.0 per cent tax on income of Tk 1.0 million, 10 per cent on income of Tk 2.0 million and up to 15 per cent tax depending on the higher amounts of income of poultry farm owners.
The new budget also proposed recast of taxes on hatchery, poultry feed, dairy, mulberry, apiculture, horticulture and pisciculture.
Secretary general of Bangladesh Poultry Industries Association (BPIA) Dr Munzur Murshid Khan told the FE that the withdrawal of the tax exemption facility would hit the poultry sector hard.
He said many small and medium scale farms would be forced to close their business after struggling hard to cope with the losses due to bird flu attacks.
He said the government in the budget proposal for the outgoing fiscal (FY'15) declared to extend the facility until 2019, but neither any circular nor any notification was published later.
He said the decision would help foreign big companies to grab the local market share.
"And in that way, the cheaper protein source will be costlier" he said.
However, the government has declared a concession over import duty and taxes on inputs and machinery for poultry and dairy products like sea weeds and other algae, poultry dung fermentation leaven, biological deodorant for biogas plant, mini pipette for semen sampling etc.
Mr Khan said they earlier demanded zero import duty on biogas plant and equipment necessary for artificial insemination.
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