- SME Foundation calls for VAT exemption for businesses with turnover up to Tk 10 million to ease financial burden and promote growth.
- Proposals presented at a meeting organized by SME Foundation and Economic Reporters’ Forum in Dhaka.
- Emphasis on preferential tax regimes and development of industrial clusters for SMEs.
- Suggested fixed tax structure based on turnover slabs for enterprises with turnover between Tk 10 million and Tk 50 million.
- Proposed VAT exemptions on various agricultural machinery and certain food items.
- Recommendation to exempt SMEs with turnover up to Tk 50 million from mandatory VAT registration.
- Suggestion to reduce standard VAT rate from 15 percent to 10 percent and lower advance tax on raw material imports.
- Proposal for VAT exemptions on local material supplies to export-oriented industries.
- Call for updated VAT regulations and waivers on certain agricultural machinery.
- SME Foundation Chairperson and other officials emphasized the need for a preferential tax regime to support SME growth.
- Request for separate budgetary allocation for SME Foundation and increased duty on imported finished goods to protect local industry.
Source: today.thefinancialexpress.com.bd
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
