Govt to provide 1pc exemption rate to SMEs for import of capital machinery
DHAKA, June 3, 2021 (BSS) – The government will provide one percent exemption rate for the import of capital machinery to small and medium enterprises (SMEs) irrespective of commercial and industrial establishments.
“In order to protect small and medium industries, I propose to increase the applicable duty on the import of some finished products made by those industries. I also propose to provide 1% exemption rate for the import of capital machinery to small and medium enterprises irrespective of commercial and industrial establishments,” said Finance Minister A H M Mustafa Kamal while placing the national budget for fiscal year (FY) 2021-22 today at Jatiya Sangsad.
In order to protect the widely used paper cup manufacturing industry, he proposed to provide concessional facilities for import of two major raw materials of that industry and increase the minimum value at the import stage of finished products made by them.
In addition, he also proposed to provide duty-free access to some of the raw material imports of the endangered conch industry to survive.