Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Friday, April 28, 2017 11:56:23 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Foreign investors need favourable tax policy

By
21st-Apr-2017       Readers ( 86 )   0 Comments
Comments
Share your thought
Post a comment »
Read all (0) »

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.

0 Comments. Share your thoughts also.
Write a comment
Tariff
Add Rate

News Archive

Inside The New Nation

City »

Barrister Mainul Hosein making a point on `terrorism` and `quality of democracy` at former British Prime Minister David Cameron`s meeting with the members of the Civil Society at a city hotel on Thursday.


Editorial »

Industries must work with varsities for manpower development


THE government's Vision 2021 that aims at attaining middle income status for the country would be almost impossible if the country fails to immediately develop skilled workforce and manpower for managerial role in different industries. Experts at a seminar in the city on Wednesday made the point saying that a ...

Sports »

Five players share top spot in Sub-Junior Chess


Five players are sharing lead at the points table with maximum 3 points each after the completion of the third round games in the SGS 36th National Sub-Junior (Under-16) Chess Championships-2017.This meet is being sponsored by Saif Global Sports and organised by Bangladesh Chess Federation is now being held at ...

Football »

Bangladesh Under-16 National Women`s Football team return to Bangladesh Football Federation House from China on Thursday.


Entertainment »

Deepika soaring the heat in Raabta title track


The title track of Sushant Singh Rajput and Kriti Sanon starrer has been released. Earlier a teaser video was launched by the makers in which Sushant and Kriti were watching a video and both were awestruck with the beauty and the hotness of the star. It was published on Facebook ...

Entertainment »

Prabhas wants this special person to watch Baahubali 2 first


While the whole country is eagerly waiting to watch this most awaited film, Prabhas wants his mother to be among the first ones to watch the film. Prabhas gave 5 years of sheer dedication and undivided attention to this magnum opus .His mother has seen him through all these years ...

International »

Anger and hope: Voters reflect on Trump`s first 100 days in office


AFP, Los Angeles :As Donald Trump approaches his 100th day in office, AFP sought out two voters-one a supporter and another an opponent of the president-to gauge what they thought of his performance so far.Clark is an oil industry executive in California's conservative Central Valley, the state's agricultural heartland where ...

Editorial »

Corruption at BRTA office needs to be held in check


IT is not unknown that government offices are safe haven for systematic corruption and where it is for rendering service to people the severity of harassment is all the more at work including extortion of money in different names. Media report on Wednesday said transport owners pay at least Tk ...

Football »

Noted sports writer Ekramuzzaman speaking at a memorial meeting of Mohammad Selim at the conference room of Dhaka Metropolis Football League Committee on Wednesday. Bangladesh Sports Press Association arranged the condolence meeting.


BSS, Dhaka

Entertainment »

Zaheer Khan-Sagarika Ghatge are now `Partners for life,` announced their engagement


If you are still not over with the much talked about marriage of Yuvraj Singh and Hazel Keech, then get ready for another! Indian cricketer Zaheer Khan, yesterday, announced that he has finally sealed the deal with a dazzling rock on his girlfriend Sagarika Ghatge’s finger. Announcing the news of ...

Entertainment »

Nazrul Academy’s Sahitya Adda : Nazrul Academy arranged its regular monthly session ‘Sahitya Adda’ recently at Nazrul Academy Bhaban at Belalabad in the city’s Mogbazar area. Vice president of Nazrul Academy Md Abdul Hannan chaired the meeting. Discussion on Nazrul’s Bidrohi poem and its research works were discussed by Hasan Alim.


City »

BUET Teachers Association observed a sit-in-programme in front of Academic Council Building on the BUET campus demanding their due pay-scale yesterday.


International »

China launches first home-built aircraft carrier amid South China Sea tension


Reuters, Beijing :China launched its first domestically built aircraft carrier on Wednesday amid rising tension over North Korea and worries about Beijing's assertiveness in the South China Sea.State media has quoted military experts as saying the carrier, China's second and built in the northeastern port of Dalian, is not expected ...

Sports »

Colin Smith, FIFA`s Competitions Director (right) FIFA Secretary General Fatma Samoura (centre) and Vitaly Mutko, Russia's deputy prime minister in charge of sport, tourism and youth policies, attend a news conference after the Russia 2018 LOC Board meeting with FIFA participation in St.Petersburg, Russia on Tuesday.


.

Editorial »

Insufficient relief brings no hope to haor people


THE government relief operation in flood-hit haors where people have lost Boro crops in the field and livestock to become utterly helpless, seems to be quite inadequate and we believe it must be upward revised. Its relief scheme for 100 days to cover around 3.3 lakh poor families is quite ...

 
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