• Saturday, Oct 23, 2021
  • Last Update : 04:59 pm

Budget FY22: 10-year tax exemption for agro industries, entrepreneurs

  • Published at 03:38 pm June 3rd, 2021
web-rajshahi-paddy
File photo of Men and women work hand in hand to gather this year's golden harvest in Tanore upazila of Rajshahi Dhaka Tribune

The tax exemption facilities will be continued for entrepreneurs who produce agriculture machinery


The government has decided to exempt tax facilities to agro-based industries and entrepreneurs for 10 years to facilitate the industries and generate employment.

The agriculture entrepreneurs, who will process fruits, vegetables, produce dairy and dairy products, and produce child foods, will get the benefit, Finance Minister AHM Mustafa Kamal said in his budget speech on Thursday.

Besides, 10-year tax exemption facilities will be continued for the entrepreneurs who produce agriculture machinery.

In his speech, the minister said the flourishing of agro-based industries and generation of employment is possible through the production of import substitute agricultural products in the country.

Furthermore, at this time of free trade, it is possible to take a substantial share of the global export market through value addition and diversification of agricultural products, he said.

"Taking these into consideration, I propose to offer tax exemption, subject to certain conditions, for ten years to industries engaged in processing locally grown fruits and vegetables, producing milk and dairy products, producing baby food entirely from locally grown agricultural products, and manufacturing of agricultural machinery," the minister said.

53
Facebook 51
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail