Staff Reporter :
Leaders of the Bangladesh Tea Association (BTA) on Tuesday urged for reducing income taxes to 10 per cent for both registered public company and non-registered public or private companies from the existing 25 to 35 per cent respectively.
They made the call while speaking a pre-budget discussion with the National Board of Revenue (NBR) virtually ahead of the upcoming national budget for the fiscal year 2021-22.
The leaders of the other three business associations participated in the discussion while NBR Chairman Abu Hena Md Rahmatul Muneem was in the chair.
The BTA Chairman M Shah Alam recommended for keeping the minimum tariff value of tea as $2.5 per kg.
He also recommended for exemption on Value-Added Tax (VAT) for their ‘sample tea’ for the betterment of the sector.
The BTA urged for fixing 1.0 per cent import duty both for sprinkler irrigation system, HDPE pipe and Aluminum Pipe considering all of them as capital machinery.
NBR chairman Rahmatul Muneem, however, said that they would not provide any new facilities for the tea sector owners as they are misusing the land.
“No new facility will be given in the upcoming budget for the tea sector. But the existing facilities will remain the same he said.
“The tea garden owners are misusing the lands by taking tax relief and other facilities as their yields are very low,” the NBR chairman alleged.
He also said the local tea gardens must have to raise their yields compared to that of the neighbouring countries to be made them competitive in the local and international market.
He assured the four associations that NBR will discuss the points they made and would accept the logical ones.
Meanwhile, SME Foundation Advisor Lutfar Rahman urged for easy process and criterion for registration of small and cottage industries.
He suggesting for reduction of tax on profits to the agricultural machinery manufactures to 20 per cent from existing 32.5 per cent.
On the other hand, Bangladesh Electrical Motor Pump Importers’ Association (BEMPIA) Joint Secretary Shahidul Islam demanded for Value-Added Tax (VAT) exemption on annual sale of Tk 5.0 million.
