Longstanding demands, particularly lifting the 2% turnover tax, of telecom sectors have been ignored in the proposed budget, insiders have said.
"Despite repeated assurance from the government and the National Board of Revenue, it is quite unfortunate to see that the industry-specific 2% minimum turnover tax has remained unchanged in the proposed budget," Shahed Alam, chief corporate and regulatory officer of Robi Axiata, in a press release, said.
Moreover, the telecom sector's demand for tax rationalisation has completely been ignored, the release reads.
"We hope the government will be kind enough to revisit the tax structure for the telecommunication sector, especially the 2% minimum turnover tax," added Shahed Alam.
Finance Minister AHM Mustafa Kamal placed the national budget for fiscal year 2022-2023 in Parliament on Thursday.