NBR grants tax benefits to 3 sectors

NBR grants tax benefits to 3 sectors

The government has introduced tax benefits for three key sectors – leather, asset management, and research – to boost competitiveness and foreign currency earnings. The National Board of Revenue (NBR) issued three separate statutory regulatory orders (SROs) on last Thursday to implement these measures.

The source tax on exports of leather goods, including leather, has been halved to 0.5 percent. Meanwhile, the 15 percent tax payable by asset management companies on their income from mutual fund management fees, which was due to expire at the end of the current fiscal year, has been extended until fiscal year 2026-27. This extension came following an application from the Association of Asset Management Companies and Mutual Funds (AAMCMF), which expressed gratitude for the NBR’s support and commitment to the capital market.

Moreover, a three-year tax exemption till FY 2026-27 was allowed on foreign grants availed by local researchers, who currently pay taxes of up to 30 percent on foreign grants. The NBR asked researchers to apply for a certificate acknowledging the tax exemption.

Source: The Daily Star

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