‘Made in Bangladesh’ products are getting 10 years tax exemption

In order to establish the ‘Made in Bangladesh’ band, the Finance Minister has proposed to give 10 years tax exemption on the products produced in the country in the proposed budget for the fiscal year 2021-22.

The finance minister is presenting the budget for the next financial year in the parliament on Thursday (June 3).

The budget proposal said, “The government is committed to establishing the ‘Made in Bangladesh’ brand in the interest of developing mega industries in the country and accelerating the import of alternative industries.” To this end, I am proposing to give 10 years conditional tax exemption to automobile-three wheeler and four wheeler manufacturing companies in Bangladesh and 10 more years tax exemption subject to some other conditions.

He also said, “In addition, I am offering conditional 10-year tax exemption to some companies manufacturing home appliances and kitchen appliances products and light engineering products.” If this proposal is implemented, the domestic producers will be encouraged. ‘

Sunbd/NJ