Bangladesh being all set to graduate from a least developed country (LDC) status soon, businesses have called upon the country’s Government to continue cash incentives while cutting source tax on exports until the LDC graduation.
According to media reports, entrepreneurs urged to Government to do so in a recent pre-budget talk with Finance Minister AHM Mustafa Kamal even as they also called for improving the business environment, lifting advance taxes on raw material imports while also preventing tax dodging.
Meanwhile, speaking to the media, Federation of Bangladesh Chambers of Commerce and Industry President Md Jashim Uddin, who has been a part of the discussion underlined the business community has proposed the Finance Minister cut source tax on exports to 0.5 per cent from the existing 1 per cent.
“We also requested him to withdraw advance income tax on raw material imports, advance tax and reduce tax pressure on small and medium enterprises,” said Jashim Uddin speaking to the media.