ZCZC
BSS-40
BCI-BUDGET PROPOSALS
BCI demands 5-year tax holiday for SMEs
DHAKA, April 8, 2019 (BSS) – The Bangladesh Chamber of Industries (BCI)
today made a six-point budget proposal for the fiscal year 2019-20 including
providing five-year tax holiday for the SMEs and young industrial
entrepreneurs and later providing them with special tax facilities.
BCI President Anwar-ul-Alam Chowdhury (Parvez) made the budget proposals
at a press conference at a city hotel. BCI Board of Directors, Advisory
Committee members, among others, were present on the occasion.
In order to attain the SDGs and the Vision 2041, the BCI president in
their budget proposal demanded for allocating land for the young industrial
entrepreneurs at a special price at the BEZA, BSCIC and other areas as well
as forming a special fund at the budget for financing youths initiatives.
Besides, he also demanded for providing collateral free loans at lowest
interest rates by the banks, providing all sorts of utility services in
highest 20 working days, keeping special tax facility for investing in
modernization of institutions, keeping tax-free all kinds of investments on
skills development, providing financial and other facilities for
participating in foreign fairs and expositions.
The BCI top leader also demanded for immediately setting up a separate
tax, tariff and trade facilitation division making the senior most member of
the NBR as its chief, providing a national export budget and bringing reforms
into the Export Policy 2019.
The trade body also opposed the proposed price hike of gas saying that it
would increase the product cost in the industries side by side the cost of
doing business would also increase.
The BCI president also opined for having a long-term policy by the
government for adjusting the price of oil and gas.
BSS/ASG/TRANS/RI/GM/ARS/2027 HRS