FICCI needs 25% company tax

Corporate Tax

Reiterating needs for slow decrease of corporate tax, the overseas traders’ Chamber of commerce & enterprise (FICCI) has known as upon the government to set a policy to have 25 in step with cent company tax inside the next five years to make Bangladesh an appealing destination for overseas investors in addition to to make sure greater revenue technology.

also study – FICCI for corporate tax cut to reinforce FDI

“What can we do with the 35 in keeping with cent company tax? human beings will avert more (in a high tax surroundings),” stated FICCI President Rupali Chowdhury, in a assembly with Finance Minister AMA Muhith currently. “you may set a coverage to have 25 consistent with cent corporate tax within the subsequent 5 years. you may’t do it overnight, however you can pass segment via section,” she delivered.

As to the distant places funding in Bangladesh, the FICCI President reportedly underlined that although the FDI grew at an excellent forty four in keeping with cent in terms of percent, the amount obtained – US $ 2.2 billion – changed into ‘peanuts’ for Bangladesh. “Cambodia and Myanmar are beforehand of Bangladesh. It should no longer be. It need to be recognised that we aren’t doing properly in that front,” reportedly stated Chowdhury, who cited India’s FDI coverage, which in keeping with her added in predominant modifications in case of overseas Direct investment, commencing up the key sectors, inclusive of aviation, defence, food retail and single-brand retail for foreign investments.

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“gasoline is not to be had in any respect. strength is there but connection isn’t always. we have generation however we do no longer have transmission traces,” alleged Rupali, including, “Labour is cheaper, however different elements are not there. I assume we need to work toward FDI because with out FDI any u . s . cannot develop…,” in an immediate connection with why FDI in Bangladesh is not at the anticipated strains, pointing out the limitations associated with land and electricity, impeding the FDI.