Tax holiday scheme to go

Finance Minister AMA Muhith. File photo
Star Online Report
Finance Minister AMA Muhith today said the government was planning to cancel the tax holiday scheme in the next fiscal year with the sectors under the scheme paying low tax.

The sectors that have been awarded tax holiday for certain periods would continue to enjoy it until their terms expire. But they have to pay low tax, the minister said.

He was speaking at a pre-budget meeting with the leaders of the Metropolitan Chamber of Commerce and Industry (MCCI).

Muhith said the government would keep an option in this year’s budget too to legalise undisclosed money to invest in some sector, housing in particular.

The government was planning to amend the laws relating to tax, customs and value added tax (VAT).

The minister could not give the figure of the money legalised over the last few years.

In the next national budget, he said the government would prioritise energy sector and put emphasis on special economic zone.

Former president of MCCI Latifur Rahman, Samson H Chowdhury, businessmen, industrialists and bankers were also present at the meeting.