Agro industries, entrepreneurs to get 10-year tax holiday

Arifur Rahman Rabbi

The government has proposed a 10-year tax exemption for agro-based industries and entrepreneurs. Besides, a decade-long tax holiday will be kept up for manufacturers of agricultural machinery.

Finance Minister AHM Mustafa Kamal said this while placing a proposed budget of Tk 6,03,681 crore in parliament on Thursday.

Bangladesh holds an unlimited prospect in agro-based industries and the flourishing of this sector is a must not only for generating employment but also for producing import-substitute agricultural products in Bangladesh, he observed.

“Our entrepreneurs are engaged in processing locally grown fruits and vegetables. They are also producing milk and dairy products as well as baby food. In addition, they are manufacturing agricultural machinery,” observed the minister.

Kamal stressed the need for value addition and diversification of agricultural products to eke out a substantial share of the global export market.

The finance minister presented a budget proposal of Tk6,03,681 crore for Fiscal Year 2021-2022 in the parliament yesterday.