Govt plans exemption of tax on IT products in the next budget

State Minister for Finance and Planning M A Mannan on Monday assured of considering the proposals relating to exemption of tax from manufacturing of laptop, computer and internet based devices for flourishing IT industry.

The assurance came when ICT State Minister Zunaid Ahmed Palak and the ICT trade body leaders submitted 17-point proposals for development of ICT sectors at a pre-budget discussion held at the Bangladesh Computer Council Auditorium.   
“Government wants to remove all barriers on way to flourish IT industry. If we are convinced that the proposals are logical and beneficial for building Digital Bangladesh definitely the government will consider,” the Finance and Planning Minister said adding that era of raising demand is being ended as the government believes in discussion to solve any problems.
Supporting the 17-point proposals which have been made studying tax and incentives packages offered for development of Silicon Valley and Bangalore based IT companies Zunaid Ahmed Palak said tax exemption from manufacturing of laptop, computer and internet based devices are required for achieving the target of $5b by 2021 through ICT export.
If a manufacturing company get chance to manufacture laptop enjoying tax exemption and sell it to local market at cheaper price the company will make huge profit and give revenue to the government, he said.  
The ICT experts and business leaders including Bangladesh Association of Software and Information Services (BASIS) President Mostafa Jabbar, Bangladesh Association of Call Center and Outsourcing (BACCO) Secretary General Towhid Hossain, E-Cab President Rajib Ahmed, Data Soft Chairman Mahabub Zaman demanded exemption of VAT and Tax from computer, laptop and internet related devices and provide cash incentives for flourishing local IT industries.
They urged the State Minister for Finance and Planning to include their demands in the national budget for the fiscal 2017-18 for ensuring its contribution in the national economy.
Chaired by ICT Secretary Subir Kishore Chowdhury, the function was also addressed by Member, Tax Policy of National Board of Revenue Barrister Zagangir Hossain and Parvez Iqbal.  LICT IT/ITES Component Team Leader Sami Ahmed presented Concept Paper highlighting the 17-point proposals for the development of ICT sector at the function organized by the ICT Division.

Govt plans exemption of tax on IT products in the next budget

State Minister for Finance and Planning M A Mannan on Monday assured of considering the proposals relating to exemption of tax from manufacturing of laptop, computer and internet based devices for flourishing IT industry. The assurance came when ICT State Minister Zunaid Ahmed Palak and the ICT trade body leaders submitted 17-point proposals for development of ICT sectors at a pre-budget discussion held at the Bangladesh Computer Council Auditorium. Government wants to remove all barriers on way to flourish IT industry. If we are convinced that the proposals are logical and beneficial for building Digital Bangladesh definitely the government will consider, the Finance and Planning Minister said adding that era of raising demand is being ended as the government believes in discussion to solve any problems. Supporting the 17-point proposals which have been made studying tax and incentives packages offered for development of Silicon Valley and Bangalore based IT companies Zunaid Ahmed Palak said tax exemption from manufacturing of laptop, computer and internet based devices are required for achieving the target of $5b by 2021 through ICT export. If a manufacturing company get chance to manufacture laptop enjoying tax exemption and sell it to local market at cheaper price the company will make huge profit and give revenue to the government, he said. The ICT experts and business leaders including Bangladesh Association of Software and Information Services (BASIS) President Mostafa Jabbar, Bangladesh Association of Call Center and Outsourcing (BACCO) Secretary General Towhid Hossain, E-Cab President Rajib Ahmed, Data Soft Chairman Mahabub Zaman demanded exemption of VAT and Tax from computer, laptop and internet related devices and provide cash incentives for flourishing local IT industries. They urged the State Minister for Finance and Planning to include their demands in the national budget for the fiscal 2017-18 for ensuring its contribution in the national economy. Chaired by ICT Secretary Subir Kishore Chowdhury, the function was also addressed by Member, Tax Policy of National Board of Revenue Barrister Zagangir Hossain and Parvez Iqbal. LICT IT/ITES Component Team Leader Sami Ahmed presented Concept Paper highlighting the 17-point proposals for the development of ICT sector at the function organized by the ICT Division.