WPDeveloper

The government may backtrack on the proposed withdrawal of the tax holiday facilities for investors in private economic zones to encourage domestic and foreign investments, according to officials from the National Board of Revenue (NBR).

The authorities are reconsidering the decision to withdraw tax holiday facilities after the announcement in the proposed budget for the fiscal 2024-25 earlier this month caused frustration among investors, the officials say.However, the final decision will be made after a meeting of NBR Chairman Abu Hena Md Rahmatul Muneem with Prime Minister Sheikh Hasina, they added. 

The authorities are reconsidering the decision to withdraw tax holiday facilities after the announcement in the proposed budget for the fiscal 2024-25 earlier this month caused frustration among investors, the officials say. Investors have welcomed the potential reversal, noting that withdrawing the tax holiday facilities would damage investor confidence.

The authorities are reconsidering the decision to withdraw tax holiday facilities after the announcement in the proposed budget for the fiscal 2024-25 earlier this month caused frustration among investors, the officials say.