10-year tax exemption for agro-based industries and entrepreneurs

10-year tax exemption for agro-based industries and entrepreneurs

The Bangladesh government has unveiled a strategic initiative to invigorate Bangladesh’s agro-based industries and spur employment growth. Finance Minister AHM Mustafa Kamal announced a generous ten-year tax exemption for entrepreneurs venturing into processing fruits, vegetables, dairy, and child foods from locally sourced agricultural produce. The incentive also extends to manufacturers of agricultural machinery.

Kamal emphasized the potential for Bangladesh to thrive in the global export market by emphasizing value addition and diversification of agricultural products. This ten-year tax exemption aims to bolster agro-based industries and generate employment by producing import substitute agricultural products in Bangladesh. By offering tax exemptions, the government seeks to attract foreign investment, fostering a conducive environment for sustainable growth in the agro-industrial sector.

Source: The Daily Star

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