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Bangladesh Budget 2008-09 and SME July 9, 2008

Posted by bdoza in BANGLADESH, Budget, ECONOMY, GOVERNANCE.
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Budget 2008-09 identifies the SME (Small and Medium enterprise) as the thrust sector,the development of which is important for the growth of economy in Bangladesh.

The budget suggests to continue no-income tax policy to keep the income of the manufacturing SME articles free from taxes by defining SME as overall turnover not exceeding Tk. 2,400,000.00

Budget proposes
a) Exemption of income tax from income of export of handicrafts
b) Upper limit of investment in capital machinery to enjoy cottage industry benefit , be increased from Tk 700,000.00 to Tk. 1,500,200.00 and annual turnover limit be raised from 2,000,000.00 and Tk. 2,4000,000.00
c) Withdrawal of VAT at the production stage of hand made buiscuits and fabrics from artificial fibre and thread using handloom to provide impetus to the small , labour intensive ad employment friendly industries.

Budget hopes that these measures will help the growth of the sector.

An ordinary citizen

Post Script:
The SME Foundation to disburse loans soon among small and medium enterprises at a 10 percent interest[DS]

Tax threshold for SME is incresed in the budget for 2008-09[DS]

SME desreves appropriate support- writes Md. Sayeed Hussain, Senior Vice President, Mercantile Bank Ltd.[DS]

News from Tech Summit India – A ray of light for SMEs[DS]

BB Governor calls for boosting SME[IBD]

Ministry of Industries launhes an SME web portal […]

Comments»

1. masud ali - July 9, 2008

i need to compute my income tax based on the latest budget updates. could anybody please send me a table by which i can compute the same,

thanks

masud ali

2. Syed - July 18, 2008

i need to knw abt the taxes on used car. would anybody help?
thx
Syed

3. bdoza - July 27, 2008

Both of you can contact NBR through their new web site http://www.nbr-bd.org/

4. Views on budget 2008-2009 « an ordinary citizen - August 4, 2008

[…] ICT sector[AOC] An analysis of defense budget is made [DS] An ordinary citizen on Budget and SME [AOC] Power crisis and the Budget […]


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