4% cash incentive on export receipts from software, ITES services

The Bangladesh Bank has announced a 4 per cent cash incentive for the freelancers on export of software and information technology enabled services.

The central bank issued a circular in this regard on Sunday.

According to the circular, freelancers who work at 55 marketplaces and those who have been selected by the ICT ministry will get the incentive. Popular market places such as Upwork, Fiverr, Freelancer and Guru were among the selected marketplaces.

The government has been providing 10 per cent cash assistance for the export of ICT products or services since 2018.

However, only institutional IT and freelancing companies with membership with BASIS were eligible for the assistance. With the BB circular, almost all of the freelancers in the country will come under a 4 per cent incentive package. Industry insiders warmly welcomed the central bank’s latest decision.