Equity and Entrepreneurship Fund (EEF) Unit of Bangladesh Bank has been inactive for long time. Country’s software based association BASIS (Bangladesh Association of Software and Information Services) raised a demand to resume EEF without late for country’s ICT sector.
Considering the budget of the 2018-19 fiscal year, the association asked to issue tax exemption certificate from National Board of Revenue (NBR) to exempt the existing tax, Value Added Tax (VAT), duty on software and IT services as well as the IT Company tax.
Senior Vice President of BASIS Farhana A Rahman said- Firstly, we have asked to simplify the delivery system of Tax Exemption Certificate, recover the duty by banks applicable for software and services imported by e-Delivery system and reduce the high tax rate imposed on security products. Besides, software’s LP system also has to be simplified.
Online based products supply is one kind of ICT business. But, like other ICT business, there is no definite VAT exemption related guideline for e-commerce companies in regard of office rent. That’s the reason BASIS raised this issue to be implemented in upcoming budget.