Preceding the last snapshot of the present government's residency, tax cuts were expanded for the IT segment. Starting now and into the foreseeable future, if any organization is set up in any hightech stop, there will be no expense for the initial seven years. Those IT organizations will get the duty finding for a long time. Just 30% of the salary that will be made every year for the following three years will be saddled. Tax breaks will be accessible for those three years on the rest of the 70 percent of the salary.
As of late, the National Board of Revenue (NBR) issued a notice in regards to this. The declaration was distributed on Thursday.
NBR sources stated, in July 2015, NBR declared uncommon tax reductions for IT organizations set up in High Tech Park. Around then, NBR gave 100 percent charge exclusion office for the initial three years of foundation of the organization. Aside from this, 80 percent of the fourth year, 70 percent in the fifth year, 60 percent in the 6th year, 40 percent in the eighth year, 30 percent in the ninth year and duty exception of 10 percent in the tenth year. Presently, as indicated by the new notice, the initial seven years of foundation of the organization will be 100 percent impose exception advantage. Also, just 30 percent of the pay for the following three years will be burdened.
As per the new notice of NBR, organizations should satisfy certain conditions to benefit charge exclusion office. Right off the bat, the pertinent organization must have an assessment ID number (TIN). Besides, as indicated by Section 35 of the Income Tax Ordinance, the records ought to be appropriately kept up and the pay government forms will be submitted to the separate salary impose experts inside the stipulated time of 75 years.
In 2010, Bangladesh Hi-Tech Park Authority was set up in the huge development of IT part. According to the Annual Report of the Hi-Tech Park Authority of 2017-18, by and by the product stop has been set up at Kaliakoir Bangabandhu Highway Park in Gazipur and Sheik Hasina Park in Jessore. In the mean time, 52 IT organizations have begun their exercises in two hightech parks. Then again, the development of the fundamental framework for the development of Hi-Tech Park (Sylhet Electronics City) is going ahead in Companyganj-Sylhet Government-Private Partnership (PPP) show. In addition, work is going ahead in Mymensingh, Jamalpur, Rangpur, Natore, Khulna, Barisal, Gopalganj, Comilla, Chittagong, Cox's Bazar, Sylhet and Dhaka in Keraniganj in the underlying stage to set up a Hi-tech Park in each locale.
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