E-commerce assoc seeks tax holiday for 5-10 yrs

FE Report

E-Commerce Association of Bangladesh (e-Cab) has sought tax holiday for five to 10 years and cash incentive to boost the sector.

The e-Cab also urged the government to redefine the sector and include it in the Information Technology Enabled Services (ITES).

The government should integrate the sector and define the virtual business to get relief from confusion, they said at a post-budget press conference held at the National Press Club in the capital on Saturday.

The e-Cab President Shomi Kaiser, Vice-President Rejwanul Haque Jami, and its General Secretary Abdul Wahed Tomal, among others, spoke on the occasion.

Speaking on the occasion, Shomi Kaiser said E-commerce sector in all countries like India and Myanmar obtained benefits from the tax holiday.

They have made extensive growth through the tax benefit, she added.

As the sector is booming significantly, the government should continue its supports and patronisations, Kaiser said.

She also thanked the government for excluding online shopping from the purview of 5.0 per cent value added tax (VAT) in the proposed budget for the Fiscal Year 2018-19.

Abdul Wahed Tomal said the government should include E-commerce and online shopping in the IETS to boost the sector.

The taxation should be done in a structured manner in terms of bringing virtual platforms like Facebook, YouTube and Google under tax network, according to the association.

About $225 million has so far been transacted in the sector.

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