Finance minister Mustafa Kamal on Thursday proposed extending tax holiday for the industrial and infrastructure sectors to June 30, 2024 from the existing June 30, 2019.
He also proposed to include some potential manufacturing sectors such as agricultural machinery, furniture, home appliance, mobile handset, toys, leather and leather goods, LED television and plastic recycling for tax holiday.
Currently, 21 industrial sectors and 19 physical infrastructure development sectors were enjoying tax holidays on the basis of geographical locations at different rates for different periods of time and the benefit would expire on June 30 of this year.
‘With a view to promoting business and investment, augmenting export and creating employments, I propose the facilities of tax holiday to continue and also to include some potential manufacturing sectors,’ Mustafa Kamal said.
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