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CCCI opposes local LC source tax in proposed budget

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Chattogram City Unit of Awami League brought out a jubilant procession in the city hailing the proposed national budget yesterday.

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09th-Jun-2018       
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Chattogram Bureau :
President of Chattogram  Chamber of Commerce & Industries (CCCI) Mahbubul Alam opposes  implication of source tax on local Letter of Credit  so imposed in the just proposed  national  budget   and said if the source tax on local  LC is implemented  ,the overhead costing of the doing business will be increased .
He  expressed reactions just after announcement of the national budget in the parliament yesterday. He also proposed to minimize the coriporate tax of Private limited companies beside the Banking sector . CCCI  President Mahbubul Alam welcomed the budget saying it will play a positive role in growth of different work strategies in business, investment and poverty alleviation.He said the highest allocation in public administration and ICT, after education sector will help achieve the target for building of skilled manpower.
He  urged the government for special allocation in ongoing different mega projects including eight lines Dhaka-Chittagong highway, elevated expressway and development of rail communication to and from Chattogram.He also proposes  savings certificates managements with development of Bond market . Welcoming the  minimizing the corporate tax in Banking sector by 2.50 percent is a positive side.
He also demand elimination of  source tax on  local LC for fl ourishing the business of limited companies and the garments  sector.He also said n exemption of VAT  local mobile set products and import of  computer equipments will help to facilitate the development of Information Tech in the country. He also urges the govt to exempon  VAT  on locally produced motorbikes and refregerators.

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