AIT on mobile phone parts’ import to be cut

Staff Correspondent | Published: 22:16, Jun 26,2018

 
 

A file photo shows the National Board of Revenue headquarters in Dhaka.-- New Age

The National Board of Revenue has decided to reduce advance income tax on import of a number of parts and accessories mainly for mobile manufacturing and assembling industry to facilitate growth of the sector.
Income tax wing of the NBR on Monday issued pre-publication of a gazette notification proposing an amendment to the provision 17A of the Income Tax Rules-1984 to reduce the AIT to 2 per cent from the existing 5 per cent on import of 17 types of parts for the sector.
The parts and accessories include loaded printed circuit board/PCB, assembled/mother board for cellular phone, key, keypad housing, keypad dome, front shell, vibrator, motor, touch panel, touch panel glass for mobile phone, liquid crystal module, camera module, input-output port, internal earphone, microphone, antenna and receiver.
Through the gazette notification, the NBR sought suggestions or objections, if any, from stakeholders on the proposed amendment to the rules by June 30.
The pre-publication of the gazette notification will be considered final if no suggestion or objection is made, it said.
Through the same notification, the NBR also waived AIT on import of some computer software including database, productivity, communication or collaboration software.
Currently, only operating systems and development tools enjoy the benefit.
The NBR also decided to reduce AIT to 2 per cent from 5 per cent on import of ocean-going large vessels having capacity exceeding 5,000 deadweight tonnage (DWT) for operating in the oceans under the Bangladesh registration for at least three consecutive years. The ships should not be older than 22 years from the date of commissioning.
Earlier, on June 19, the NBR waived 15 per cent VAT on import of ocean-going ships having capacity above 5,000 DWT with some conditions including operation as national flag carrier at least for five years.

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