Welcoming the proposed national budget for FY2019-2020, the Chittagong Chamber of Commerce and Industry (CCCI) recommended a few changes.
CCCI leaders demanded turnover limit for mandatory VAT registration to be re-fixed at Tk3 crore from Tk80 lakh.
They urged the government to increase the tax-free annual income limit for individuals and to opt out of 10 percent supplementary duty on private cars.
They suggested that small businesses should be exempted from mandatory adoption of electronic fiscal device initially as these businesses lack technical know-how.
They hailed the government’s plan to build a Dhaka-Chittagong high-speed rail network and a bay terminal in Chittagong.
“The proposed budget, if implemented properly, will help achieve higher growth with controlled inflation. It will be favourable for SME and women entrepreneurs as well as for infrastructure development. Besides facilitating existing businesses, the government is creating new opportunities,” said port city chamber’s Vice-President Syed Jamal Ahmed.