The government focuses on green mobility in its proposed tax measures for next fiscal year including a bunch of tax incentives to popularize and facilitate solar power.
While placing the national budget on Thursday, Finance Minister Amir Khosru Mahmud Chowdhury set a target of generating 20 per cent of total electricity demand from renewable energy sources by 2030.
He also unveiled plans to generate between 30 and 50 per cent of electricity from renewable sources by 2050.
"To encourage solar power generation that is environmentally friendly, affordable, and sustainable, I propose a zero percent tax rate on the solar power sector until 2035," the FM said in his budget speech.
He also proposed granting consumers a 5.0 per cent tax rebate on payments made against their solar electricity bills.
The FM also proposed extending the existing duty exemption on the import of chemicals required for operating Effluent Treatment Plants (ETPs) until June 30 2027.
"To expand the renewable and sustainable energy sector, particularly solar power, the most important and safest source of clean energy, I propose issuing a new notification reducing import duty, regulatory duty, supplementary duty, and advance tax on essential solar-power components to zero percent," the budget speech reads.
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