Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Saturday, October 21, 2017 03:43:30 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Foreign investors need favourable tax policy

By
21st-Apr-2017       
Comments
Share your thought
Post a comment »
Read all () »

AN increasing number of trade organizations have been demanding a reduction in corporate tax rates in the upcoming 2017-18 National Budget. Foreign Investors' Chamber of Commerce and Industry has asked for cutting corporate tax by 10 percentage points, which is now hovering between 25 percent and 45 percent. To attract Foreign Direct Invest (FDI), which has decreased, and increase domestic investment in large manufacturing sectors, the government should reduce the corporate tax as the tax rate is higher than many developing countries. While large amounts of investment is unlikely due to bottlenecks and weak aggregate demand, the burdensome corporate tax pushes even the local investors to look for investment in another country by laundering money and the foreign investors to look for alternate markets. If the tax is reduced it will attract more investment, and thereby more employment will be generated, resulting in the speed up of the wheel of economic progress.

The trade body in a meeting with the National Board of Revenue (NBR) has called for comprehensive policies. Business people will get confidence if the laws and policies would not change every year as the frequent change in tax and revenue policies create difficulties for businesses to do future planning. The economic growth rate in the country is hovering around 6 percent in the last few years but the tragedy is the growth has not created significant levels of employment. So, the increasing numbers of youths who enter the job market remain unemployed and the expected growth in jobs doesn't occur.

Meanwhile, Bangladesh Women Chamber of Commerce and Industry (BWCCI) stressed the need for formulating a women entrepreneur-friendly budget. The chamber called for the continuation of the allocation of Tk 100 crore in the next budget to facilitate women entrepreneurship and set Tk 4 lakh as tax-free income limit for women.  It said entities run by women entrepreneurs should get VAT and tax waiver for up to Tk 50 lakh in annual turnover. They asked for low-cost loans for women, including for those who run cottage industries in rural and suburbs.

The upcoming budget should be a budget that can successfully create employment opportunities by encouraging investors to set up labour-intensive large manufacturing industries. Without a turn into manufacturing, the economic growth would not be sustainable beyond what the World Bank has projected. The corporations should be given incentives by lowering the corporate tax while female entrepreneurs need more facilities in the budget.

Tariff
Add Rate

News Archive

Inside The New Nation

Football »

Giroud`s overhead kick gives Arsenal 1-0 win at Red Star


Agency :Olivier Giroud scored late in the second half for Arsenal to maintain its perfect Europa League campaign with a 1-0 win over 10-man Red Star Belgrade on Thursday.Five minutes after Milan Rodic was sent off for a second yellow card, Giroud struck with an overhead kick five minutes before ...

Entertainment »

Ali Fazal and Shriya Pilgaonkar come together for Web Series


Shriya Pilgaonkar who was appreciated for her Hindi film debut as Shahrukh Khan’s love interest in Fan and for her viral short film Jai Mata Di, is now going to be seen in a web show called Mirzapur produced by Farhan Akhtar and Ritesh Sidhwani for a global online platform ...

Editorial »

Flood victims yet to get enough support


GOVERNMENT and aid agencies have provided emergency relief for flood victims but not sufficient to settle flood victims as per media reports quoting Center for Policy Dialogue (CPD) researchers who tried to figure out the distribution system in the Haor areas. Over 37 lakh people were affected in the floods ...

City »

Islami Andolon Bangladesh brought out a rally in the city on Friday in protest against price hike of gas and electricity.


.

International »

Iranian Army chief, Assad discuss joint military strategy


Reuters, Beirut :Iran's military chief met with Syrian President Bashar al-Assad on Thursday during a visit to Damascus to set out a joint military strategy, Syria's state news agency reported, a sign of deepening Iranian influence that has alarmed Israel.General Mohammad Baqeri said Iran was determined to continue supporting the ...

Editorial »

Mr Xi`s new vision for China


CHINESE President Xi Jinping has laid out a far-reaching vision for a more prosperous nation and a dominating role for China in the world as the US President Donald Trump is working on a reverse way isolating his country from the world leadership role. In the domestic front he has ...

International »

May to urge EU leaders to speed up Brexit talks


AFP, Brussels :British Prime Minister Theresa May will appeal to European Union leaders at a crunch summit in Brussels on Thursday to push forward the deadlocked Brexit negotiations.At a meeting moved to a new venue at the last minute due to an eruption of toxic gas, May will urge her ...

Cricket »

Rangpur Riders recruit Brendon McCullum


Sports Reporter :Rangpur Riders have recruited wicketkeeper-batsman of New Zealand Brendon McCullum for the up coming fifth edition of Bangladesh Premier League (BPL).Chief Executive Officer of Rangpur Riders Ishtiaq Sadek said to the newsmen, " We have confirmed that McCullum will join our squad on November 15. He will play ...

Entertainment »

Titaan Chowdhury hosting `Sampan`


'Sampan' is one of the popular programmes of Chittagong centre of Bangladesh Television of present time. Dance, music, magic, etc are presented in this show. Popular face of the small screen Titaan Chowdhury is hosting this programme. Positive side is Titaan is hailed from Chittagong. So it becomes easier for ...

City »

BNP Chairperson Begum Khaleda Zia appeared before the Alia Madrasha Special Court in the city's Bakshibazar on Thursday seeking bail on Zia Orphanage Trust and Zia Charitable Trust Graft cases.


International »

Threats to start war with North Korea `dangerous, short-sighted`: Hillary


Reuters, Seoul :  Former U.S. presidential candidate Hillary Clinton said on Wednesday that "cavalier" threats to start war on the Korean peninsula are "dangerous and short-sighted", urging the United States to get all parties to the negotiating table.Clinton also called on China to take a "more outfront role" in enforcing ...

Sports »

U-12 School Handball Tournament begins tomorrow


Sports Reporter :The Atom Gum Under-12 School Handball (Boys' & Girls') Tournament begins tomorrow at the Shaheed (Captain) M Mansur Ali National Handball Stadium.Bangladesh Handball Federation will organize the handball meet under auspices of Pran Confectionary Limited.In this regard, a press conference was held at the Dutch-Bangla Bank Auditorium in ...

Editorial »

Diplomacy must work in Korean peninsula


THE Korean peninsula is closer to war again as a North Korean official reaffirmed on Monday Pyongyang's commitment to developing a long-range intercontinental ballistic missile capable of reaching "all the way to the East coast of the mainland US." He said his country is currently not interested in diplomacy with ...

Entertainment »

Only Sunny Leone could dare to wish Diwali in this unique manner


Sultry actress Sunny Leone who has millions of die-hard fans around the world has come up with a new video and that too in her own style. Sunny Leone has posted a new video in which she is wishing a Happy Diwali, especially to the boys. This video is, in ...

City »

Liberation Affairs Minister AKM Mozammel Haq speaking as Chief Guest at a discussion meeting organised by the BADC Sramik -Karmachari League on the occasion of its 56th founding anniversary of Bangladesh Agriculture Development Corporation (BADC) at its Conference Room yesterday.


 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news