Widen tax net, cut tax rates: BCI

Bangladesh Chamber of Industries (BCI) has recommended setting a tolerable revenue-collection target in the upcoming national budget to boost industrial growth and investment.

It also suggested widening the tax net and reducing the tax rates, which will help earn more revenues.

In a statement on Thursday, President of BCI Mostafa Azad Chowdhury Babu called on the government to allow bonded warehouse facilities for export-oriented small and cottage industries and women entrepreneurs in rural areas.

He also called for ensuring water and electricity supply at reduced rates to the export-oriented industries.

The BCI also urged the government to finance the small and cottage industries and women entrepreneurs in rural areas from the venture capital fund.

It also called for giving opportunities to small and women entrepreneurs to participate in the international expositions abroad in an effort to increase exports.

The trade body also observed that a permanent investment-friendly and industrial development-oriented tax structure should be incorporated in the budget.

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