Bangladesh finance minister rejects tanners’ tax holiday demand

Staff Correspondent | Published: 22:36, May 20,2018 | Updated: 22:57, May 20,2018


Bangladesh finance minister AMA Muhith on Sunday rejected an appeal for 7-10 years tax holiday by the tanners to encourage investment in the leather industry.
There is no scope for considering the demand for tax holiday, he said at a pre-budget discussion with the Bangladesh Tanners Association at the Secretariat.
Led by BTA president Shahin Ahmed, the association placed five other demands, including halving the value added tax on import of chemicals and continuation of the five per cent cash incentive against export.
Shahin said that they needed support as the government wanted more than $5 billion export-earning form the leather sector.
At another pre-budget discussion, bidi manufacturers urged Muhith to declare bidi-making a cottage industry, fix tax like that of India and Tk 14 as tax on 1,000 bidi sticks and waive tax for factories that manufacture 20 lakh sticks.
They also urged Muhith to change his stance against bidi.
They expressed concern with the letters the finance minister wrote to ministries and divisions to discourage bidi industry.
Muhith is scheduled to announce the national budget for 2017-18 in parliament on June 7.

Want stories like this in your inbox?

Sign up to exclusive daily email