The Nationwide Board of Revenue (NBR) has revoked the tax exemption facility for ocean-going ships on their international earnings.
The income board presented the crawl in a statutory regulatory elaborate (SRO) issued the day earlier than this day (17 December).
On memoir of the crawl, ship owners on this sector now have to pay a 3% source tax on international forex earnings from companies supplied through their ship.
Currently, there are about 100 running Bangladeshi-flagged ocean-going ships, in keeping with a NBR legit.
The legit, on situation of anonymity, told The Enterprise Authorized that, “enforcing this tax could well perhaps potentially generate around Tk100 crore yearly in earnings tax from this sector”.
This dedication follows concepts from the Global Monetary Fund (IMF), which has entreated the NBR to withdraw tax exemptions granted to varied companies.
Earlier this month, an IMF delegation met with the NBR chairman and revised the income sequence purpose, requiring an additional Tk12,000 crore to be aloof within the direction of the hot fiscal year to produce extra 0.5% tax to GDP snort.
