The American Chamber of Commerce in Bangladesh (AmCham) proposed reducing the tax burden on carbonated beverages but the National Board of Revenue (NBR) rejected it outright. During a pre budget discussion on March 5, AmCham’s Managing Director Rezaur Rahman Mahmud proposed reducing Supplementary Duty (SD) on carbonated beverages, citing a tax increase in January. However, NBR Chairman Md. Abdur Rahman Khan stated that the World Health Organization (WHO) pressures for higher taxes on such products so SD will not be reduced.
Other organizations, including BEPZA, BUILD, High Tech Park Authority and India-Bangladesh Chamber also presented budget proposals. BEPZA proposed tax holidays for investors in remote and underdeveloped areas, while the India-Bangladesh Chamber suggested revising penalties for import declaration errors and expanding land port boundaries. Additionally the Bangladesh Specialized Economic Zone (BSEZ) proposed tax exemptions on dividends, withholding tax waivers, and flexibility in returning booking money abroad. High-ranking officials from various agencies attended the discussion.
Source: The Daily Inqilab
