CNG filing owners association yesterday urged the National Board of Revenue (NBR) to remove 0.50% minimum income tax limit on the total revenue earned by the CNG filing stations as they term the imposed tax is ‘illogical’.
The government has fixed the selling price of feed gas at Tk23 per cubic meter and Tk30 for compressed natural gas whereas the CNG filing stations have to pay Tk1.58 for production of each cubic meter of gas, said AKM Alamgir Khan, finance secretary of Bangladesh CNG Filing Station and Conversion Workshop Owners Association yesterday at NBR headquarters in the city.
The CNG filing station owners are getting only Tk0.18 by selling per unit of CNG, which has resulted in losses in many of the stations outside the capital, he added.
“Imposition of 0.50% minimum income tax limit is ‘illogical’ under any circumstances and it needs to be removed as the companies are running out their businesses with continued losses while many of the owners have not only become sick but also bankrupts.”
AKM Alamgir came up with the demand for withdrawing the minimum tax-limit while placing a set of proposal to the NBR for its consideration for the upcoming FY2014-15 budget.
Demanding withdrawal of tax and duties, he said the government should also withdraw the 5% Advance Income Tax and imposed tax on the profits and also withdraw 3% Advance Trade VAT in the import of CNG kits and spare parts from the sector.
