• Sunday, Oct 24, 2021
  • Last Update : 10:44 pm

Budget FY22: Tax exemption for locally made vehicles on the cards

  • Published at 03:59 pm June 3rd, 2021
car
Representational photo Bigstock

He also proposed 10 years' tax exemption for the companies engaged in the production of certain home and kitchen appliances and light engineering products

As part of the country's initiative to promote local brands, Finance Minister AHM Mustafa Kamal on Thursday proposed tax exemption for the companies that engaged in the production of automated vehicles in Bangladesh.

He placed the proposal while announcing the annual budget for 2021-22 fiscal year at parliament.

 "I propose to provide tax exemption to the companies engaged in the production of three and four-wheelers in Bangladesh for 10 years, subject to fulfilment of certain conditions," he said.

He also announced that the exemption may be extended to a further 10 years on the fulfilment of certain other conditions.

He also proposed 10 years' tax exemption for the companies engaged in the production of certain home and kitchen appliances and light engineering products.


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