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Renewable energy businesses urge duty waiver

BTJ Desk Report
Renewable energy businesses urge duty waiver

Businesses engaged in solar and renewable energy urged the National Board of Revenue to remove import tariffs on raw materials in the national budget for the upcoming fiscal year 2023–2024.

Moreover, e-commerce businesses demanded the NBR grant a 10-year tax break.

At a pre-budget meeting with the NBR, representatives from the Bangladesh e-Commerce Association, Bangladesh Solar and Renewable Energy Association, Bangladesh Acid Merchant Association, Bangladesh Paint Manufacturer’s Association, Bangladesh Bread Biscuit-O-Confectionery Prostutkarak Samity, and Bangladesh Flexible Packaging Industries Association presented their respective budget proposals.

Also, e-CAB suggested lowering the value-added tax on delivery services from the current 15% to 5%, and it proposed giving e-business a formal definition as well.

According to the BSREA, although the government has set a goal of producing 10% of its energy from renewable sources by 2021, this source currently only contributes 3.78%.

For solar panel parts including inverters, lithium batteries, and solar irrigation systems, duty-free import facilities were proposed.

The BAMA advocated lowering the additional duty on sulfuric acid imports and aggressively enforcing controls on the unlawful export of locally produced acid.

It claimed that the price of locally manufactured acid was less expensive than in other parts of the world and that many companies illegally exported the goods, which had an influence on the government’s ability to collect taxes.

The BPMA suggested eliminating the 5% supplemental charge on imports of raw ingredients for paint.

The BBBCPS proposed extending the VAT exemption limit on the sales of biscuits and cakes to Tk 200 from Tk 150.

The BFPIA proposed reducing the advance income tax at import and local supply stages.

NBR chairman Abu Hena Md Rahmatul Muneem presided over the meeting.


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