The FBCCI wants to reduce the corporate tax rate to 10-15%

0






The country’s top trade body has demanded that the government lower the corporate tax rate to 10-15%, to help the backward linkage industry flourish.

Since most of the country’s backward linkage industries are small and medium-sized enterprises, the corporate tax rate in this sector should be lower, he added.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Standing Committee on Backward Linkage Industries presented the proposal during its first meeting at FBCCI Icon in the capital on Thursday.

Committee chairman Abul Kalam Bhuiyan said lowering the corporate tax rate to 10-15% would help develop the backward linkage industry.

He also suggested that entrepreneurs get land at affordable prices for the expansion of the industry.

Speaking as the chief guest of the meeting, FBCCI Vice Chairman MA Momen said most of the giant enterprises today started their journey as upstream linkage industries.

“Therefore, the role of this sector in the overall development of the country is undeniable,” he said.

Mr. Momen said that industrialization is not possible without the development of the backhaul industry.

If there is no such industry, the supply chain will collapse, the FBCCI leader said, emphasizing the development of this industry for the greater good.

At the same time, he called on the government to give due importance to this sector when adopting policies.

The director in charge of the FBCCI Standing Committee, Joshoda Jibon Debnath, called on entrepreneurs in the backhaul industry to take concerted initiatives to establish a separate industrial zone for the sector.

He assured them of their cooperation in accessing the necessary bank loans in this regard.

Mr. Debnath said expanding the backhaul industry was key to meeting the challenges of post-LDC industrialization.

Businessmen present at the meeting pointed to harassment from tax and port authorities, excessive licensing and renewal provisions, violation of PPR in the public procurement process and unequal rights in the import of the same product between export-oriented industries and backward linkages, as major obstacles to development. of the sector.

They also demanded the inclusion of the backhaul industry in future industrial policy and the provision of land at affordable rates.

Their other demands energize the BSCIC, prioritize local products in government procurement under the PPR, and discourage imports to protect locally produced products.

FBCCI directors Bijoy Kumar Kejriwal and Harun or Rashid, committee co-chairs Chaitanaya Kumar Dey (Chayan), Md Salauddin Yusuf, Zia Hayder Mithu and its secretary general Mohammad Mahfuzul Hoque were present.

[email protected]

Share.

Comments are closed.