ITES to get tax exemption until 2024

Staff Correspondent | Published: 22:52, Jun 03,2021

 
 

Finance minister AHM Mustafa Kamal on Thursday proposed that the extension of tax exemption for 22 types of information technology-enabled services should be extended until the year 2024 to support development of the ITES sector.

Besides, the finance minister also proposed a 10-year tax exemption to some selected IT hardware, subject to manufacturing of the items in the country.

Mustafa Kamal in his budget speech at Jatiya Sangsad on Thursday said, ‘This is the age of information and communication technology. The present government is attaching highest importance to the ICT sector.’

‘The existing tax exemption provided to the ICT sector needs to be further expanded in order to take the government’s vision of building a digital Bangladesh one step forward,’ the finance minister said.

‘I propose to further expand the existing 22 ITES heads enjoying tax exemption in this budget,’ he said, adding, ‘This will give impetus to the digital transformation process of Bangladesh, will make modern digital services easily available to the citizens at a low cost, and will also make a positive impact in materialising the dream of building a digital Bangladesh.’

This will also create young entrepreneurs in the country, said Kamal, adding, ‘With these ends in view, I propose to offer tax exemption facility to providers of cloud service, system integration, e-learning platform, e-book publications, mobile application development service and IT freelancing until 2024.’

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