Editors yesterday urged the government to cut corporation tax for newspapers to 10-15% from the 2022-23 financial year to help print media survive amid rising costs.
Currently, the newspaper industry has to pay 30 percent corporate tax.
Publishers were also calling for a reduction in withholding tax to 2 per cent from the current 4 per cent and the abolition of customs duties of 5 per cent on imports of newsprint.
They also called for the abolition of the 5 per cent withholding tax on newsprint imports.
They made the call during a virtual meeting with Finance Minister AHM Mustafa Kamal, hosted by the Ministry of Finance ahead of the placement of the budget for the upcoming financial year.
Matiur Rahman, Editor of Prothom Alo, Editor of Daily Amader Orthoneeti Nayeemul Islam Khan, Naem Nizam, Editor of Bangladesh Pratidin, Founding Director and Head of News at Channel i Shykh Seraj, Shamsul Huq Zahid, Editor of Financial Express, and Toufique Imrose Khalidi, editor of bdnews24.com. , among others.
Abdur Rouf Talukder, Principal Secretary of the Ministry of Finance, moderated the session.
During the meeting, Naem Nizam said that the newspaper industry in Bangladesh is going through a tough time. Yet newspapers must account for 30% of business revenue