Reduce source tax on frozen shrimp, other fish export to 0.25%: Frozen foods exporters

Bangladesh Frozen Foods Exporters Association (BFFEA) has demanded reduction of source tax on export of frozen shrimp and other fish to 0.25 percent from the present 0.50 percent.

The BFFEA also urged the government to increase cash incentives for export of frozen shrimp to 20 percent from the current 10 per cent, and incentive for export of other fish to 10 percent from 5 percent.

BFFEA President Amin Ullah request to completely stop the deduction of 10 percent advance income tax on cash assistance provided by the government for the export of frozen food.

BFFEA in its budget reaction on Thursday termed the proposed national budget for the FY 2021-22 as pro-people, time-befitting, realistic and development oriented, noting that it will help expedite economic development in the country amid the coronavirus pandemic.

According to the BFFEA release, the chamber president said emphasis should be given on ensuring transparency and accountability in implementation of the highest ever annual budget.