Finance minister Abul Maal Abdul Muhith on Friday said the companies enjoying tax exemption because of the tax holiday facility for certain period would come under tax net.
He, however, said the locally-owned industries and manufacturing firms would get tax preferences in the upcoming national budget.‘Progressive tax will be imposed on them,’ Muhith said after inaugurating a refrigerator factory of Walton at Chandra in Gazipur.
He said that allowing tax holiday facility to the new companies was suspended since last year.
The new industries will pay tax at ‘reduced rate’ for creating environment for industrialisation, investment and jobs in the country, he said.
‘Every company should pay taxes,’ he said.
The finance minister praised Walton for its performance. Walton has targeted to export refrigerators by setting up the new plant having a capacity of producing 1.4 million pieces annually.
-With New Age input
