The benefits of the current taxes, VAT, and customs duties to local industries will not last forever, according to Abu Hena Md Rahmatul Muneem, chairman of the National Board of Revenue (NBR).
He urged local industrial sector business owners to prepare, saying, “We gave you a stick [tax support] to stand on your own feet. But should we keep giving you this support in order to cripple you? This assistance won’t last [forever] at the same level.”
He made the comments on 27th February during a pre-budget meeting in the capital’s Agargaon, in response to demands from the local industrialists. Currently, the Bangladesh Textile Mills Association (BTMA) pays 15 per cent at the supply stage and 7.5 per cent at the procurement stage as VAT.
