In what is seen as a move by the Bangladesh Government towards attracting more local entrepreneurs toward the container business so as to save billions of dollars annually, it has proposed to reduce the total tax incidence on all types of containers.
Reports underlined this while adding Finance Minister AHM Mustafa Kamal, in his speech while presenting the country’s national budget recently, proposed to reduce the total tax incidence on all types of containers where total tax liability will be 20 per cent in both cases and customs duty rate will be 15 per cent on both types of containers even as he opined this is to create domestic entrepreneurs in this sector.
Meanwhile, speaking to the media, sources from within the country’s National Borad of Revenue (NBR) reportedly maintained container business is controlled by 100 per cent foreign entities while adding businesses rent these containers ranging from US $100 to US $ 150 depending on the destination even as every year around 30-35 lakh containers are used to transport export-import goods.
