The government plans to propose Advance Tax (AT) exemption for the import of aircraft by registered organisations.
Finance Minister AHM Mustafa Kamal made the statement while placing the proposed national budget for FY23 at Jatiya Sangsad on Thursday.
He also proposed withdrawal of the existing 5.0 per cent supplementary duty on all types of polythene bags, plastic bags (including oven plastic bags) and wrapping materials made of polyethene.
Moreover, Kamal proposed a reduction of VAT rate (for some sectors) from 5.0 to 1.5 per cent at wholesale trading.
The minister has proposed to give VAT exemption at the trading stage to those animal feeds which are already enjoying exemption at the import and manufacturing stage.
Besides, the existing VAT rate on manufacturing hand towels / paper towels / clinical bed sheets has been reduced from 15 to 5.0 per cent.
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