BCMA calls for withdrawal of import tax

The Bangladesh Cement Manufacturers Association (BCMA) has called for the withdrawal of a non-adjustable advance income tax (AIT), which is applied at both the import and supply stage, according to The Financial Express.

"So far we know this non-adjustable tax is not applicable for any other sectors. I also do not know whether such type of tax is realised in other countries," said BCMA president, Alamgir Kabir.

Currently, local manufacturers pay three per cent tax at the import stage and a further three per cent at the supply stage.

The association has also proposed that the import tax on imported clinker should be reduced to BDT300/t (US$3.53/t) from BDT500.

Mr Kabir noted the impact of the COVID-19 pandemic on the sector, stating that it may take a few years to overcome. "The companies were able to restore only 40 per cent production in last month. The companies are bearing the costs of productions and wages of employees through great hardship," he said.