BGAPMEA, AMTOB demand corporate tax cut

Staff Correspondent | Published: 00:10, Jun 09,2018 | Updated: 23:31, Jun 08,2018

 
 

The Association of Mobile Telecom Operators of Bangladesh and the Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association on Friday demanded a reduction of corporate tax for their respective sectors.
The AMTOB, in a press release, expressed its dissatisfaction saying that there were no favourable changes for the sector in the proposed national budget for the fiscal year of 2018-19.
TIM Nurul Kabir, secretary general of the AMTOB, in his budget reaction said that mobile network operators expected a positive move from the government as it was a significant enabler of the government’s vision of Digital Bangladesh.
The AMTOB demanded removal of 15 per cent value-added tax on internet use and Tk 100 tax on new SIM and replacement of SIM.
It also demanded reduction of tax on import of smart phones.
BGAPMEA president Md Abdul Kader Khan, in a separate press release, demanded reduction of corporate tax rate to 15 per cent as offered for the readymade garment sector.
‘Currently, we are paying 35 per cent corporate tax. On the other hand, garment manufacturers are paying 12 per cent. In the proposed budget, the government has proposed an increase in corporate tax to 15 per cent for the RMG sector but no change for the garment accessories makers,’ he said.
Kader said that the existing 35 per cent corporate tax was burdensome for the garment accessories and packaging makers and it would discourage new investment in the sector.

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