Thursday, April 08, 2021

Request for withdrawal of VAT and Tax on technology products

 Junaid Ahmed Palak, State Minister for Information and Communication Technology, has called for the Internet to be considered as a basic emergency service like electricity and energy instead of a luxury service in the interest of building a creative economy and knowledge-based society and taking the digital revolution further.

At the same time, he called for the withdrawal of VAT and duties on internet-related equipment in the budget for the next financial year.

Junaid Ahmed Palak wants duty free facility till 2030 on research and development of digital products. He also proposed in the budget for the next financial year that Orix Biotech be given duty exemption on the import of equipment and specialized vehicles used in some cases for plasma fractionation in the country.

State Minister Abu Hena Mohammad joined the Virtual Round Table Meeting on 'Made in Bangladesh ICT Industry Policy' on Friday (April 2) evening. Rahmatul Munim made these suggestions in his introductory speech.

The proposal also highlights the benefits of early tax withdrawal in the IT and ITES sectors and the benefits of obtaining a tax-free certificate in 2024. It is also proposed to reduce the corporate tax in this sector from 35 per cent to 10 per cent.

The virtual roundtable was attended by Bakko President Wahid Sharif, Hi-Tech Park Authority Director NM Shafiqul Islam, Walton Executive Director Liaquat Ali, Proposed Digital Device Manufacturers and Exporters Association (DDMEA) President Mahteb Ortek, DDMEA) Md. Rezaul Karim, Director General of Digital Security Agency and Syed Almas Kabir, President of BASIS spoke on the occasion.

Note that for the first time, Digital Device and Innovation Expo 2021 is being held virtually. This year's exhibition has been virtually arranged with emphasis on hygiene during the coronation period. Six seminars are being held on the second day of the exhibition on Friday. Visitors can participate in these seminars and exhibitions through the website or through the app. The entire program is being coordinated by the Bangladesh Hi-Tech Park Authority.


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