Bangladeshi tax break said to induce local investors into containers
THE Bangladesh government is said to be inducing greater local investment in containers by proposing to reduce the total tax incidence on all types of containers, reports New Delhi's Apparel Resources.
Finance Minister AHM Mustafa Kamal, in his recent budget speech, proposed to reduce the total tax incidence on all types of containers where total tax liability will be 20 per cent in both cases and customs duty rate will be 15 per cent on both types of containers even as he suggest this was to create domestic entrepreneurs in this sector.
Sources in the National Board of Revenue (NBR) maintained container business is controlled by 100 per cent foreign entities while adding businesses rent these containers ranging from US$100 to US$150 depending on the destination even as every year around 53,550 containers are used to transport export-import goods.
source:SchedNet
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