B Mirror Report: The Bangladesh Agro Processors Association (BAPA) has proposed exemption from tax deduction at source on agricultural product supply and called for reducing VAT rates to single digits.
The proposals were placed at a pre-budget meeting with the National Board of Revenue (NBR) on April 7. BAPA also sought a cut in business-level VAT to 3 percent and VAT exemption at the supply stage for products made with mostly tax-exempt inputs.
The association further urged withdrawal of supplementary duty on mineral water, describing it as an essential item.
NBR Chairman Md. Abdur Rahman Khan said the board would consider the proposals, while noting challenges in reducing turnover tax due to low overall tax collection. He also stressed ensuring that tax benefits reach consumers.
Other business groups at the meeting proposed cuts in corporate tax, import duties, and advance income tax, along with faster VAT refund systems.
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