Tax exemption proposed for ‘Made in Bangladesh’ brands

Finance Minister AHM Mustafa Kamal has proposed tax exemption for companies that are engaged in the production of automated vehicles in Bangladesh as part of supporting "Made in Bangladesh" brands. 

"I propose to provide tax exemption, subject to certain conditions, to the companies engaged in the production of three and four-wheelers in Bangladesh for ten years," he said while announcing the annual budget for 2021-2022 fiscal year at the National Parliament Thursday.

He also said the exemption may be extended to a further ten years on the fulfilment of certain other conditions.

"The government is pledge-bound to nurture the 'Made in Bangladesh' brand to accelerate the establishment of mega industries and production of import-substitute industrial goods in the country," the minister said earlier.

In addition, he proposed to exempt tax for 10 years for the companies engaged in the production of certain home and kitchen appliances and light engineering products.