10-year tax exemption for agro-industries, entrepreneurs
The government has granted tax exemption facilities to agro-industries and entrepreneurs for 10 years to make industries prosper and create jobs.
Agricultural entrepreneurs, who will process fruits, vegetables, produce dairy and dairy products and produce children’s food, will benefit, AHM Finance Minister Mustafa Kamal said in his budget speech today.
In addition, 10-year tax exemption facilities will be maintained for entrepreneurs who produce agricultural machinery.
In his speech, Kamal said that the boom in agro-industries and job creation is possible through the production of import substitution agricultural products in Bangladesh.
Moreover, in this period of free trade, it is possible to take a substantial share of the world export market through the added value and diversification of agricultural products, he said.
“Taking these elements into account, I propose to offer a tax exemption, under certain conditions, for ten years to industries engaged in the processing of locally grown fruits and vegetables, the production of milk and dairy products, the production of baby food made entirely from locally grown agricultural products and the manufacture of agricultural machinery, ”the minister said.