The decision about continuation of tax holiday in IT sector maybe clear on May 14
Finance Minister Abul Hasan Mahmud urged the National Board of Revenue (NBR) to consider the issue of tax holiday in the IT sector in the new (2024-2025) budget. Also, on Sunday (March 12), the state minister for Finance Ministry, Wasika Ayesha Khan held a meeting with the top officials of NBR at the National Revenue Building.
Meanwhile, BASIS President Russell T Ahmed, Senior Vice President M Rashidul Hasan, Vice President (Finance) Iqbal Ahmed Fakhrul Hasan met with State Minister for Finance Wasika Ayesha Khan at Bangladesh Secretariat on the same day. BASIS former president Fahim Masroor and former senior vice-president Samira Zuberi Himika were also present in this curtesy meeting.
In that meeting, a report prepared by a seven-member committee headed by former BASIS president Habibullah N Karim was submitted by the BASIS Presidents' Forum on tax exemptions.
On the other hand, an hour-long meeting at the conference room of the NBR building in Agargaon was proposed from Finance ministry to consider the proposal to continue the tax holiday in the information technology sector. Besides, both parties exchanged information about various aspects of the upcoming budget. But NBR is not yet positive about this.
According to the sources, in such a situation, the finance minister has urged to consider whether taxation can be imposed little by little in this sector instead of lifting the tax holiday completely. NBR is having a day-long meeting with Prime Minister Sheikh Hasina on May 14 on these issues. Papers and presentations have already been prepared for presentation at the meeting. There was no change in the previous decision. An official of the organization said on condition of anonymity that the Prime Minister may not comment on this matter unless she considers it very important. That is, the previous decision can then be enforced.
Meanwhile, BASIS president Russell T Ahmed expressed hope that the prime minister will reconsider the decision of the NBR in the interest of implementing Smart Bangladesh after assuming responsibility for the second term. He said, Bangladesh is moving forward with the foresight of the Prime Minister. She is the one who gave the concept of Smart Bangladesh by implementing Digital Bangladesh. We have faith and trust that she will not agree to any decision that hinders Smart Bangladesh. We are making every effort to explain this to everyone.
Earlier, the VCPEAB president and president of the event Shamim Ahsan proposed to continue the tax holiday in the information technology sector for the next 3 years in a seminar held with representatives of almost all parties related to the sector. After the claimed three-year tax exemption period, an annual tax rate of between 1 percent and 2 percent could be introduced, he said. The contribution of information technology sector to the GDP of Bangladesh is 1.9 percent. Prime Minister's Private Investment Adviser Salman F Rahman and State Minister for Posts, Telecommunications and Information Technology Zunaid Ahmed Palak expressed solidarity with this demand.
