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FBCCI : Setting Policy-10-15% corporate tax for backward linkage industries

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Desk Report: As most backward linkage industries in the country are small and medium sized, the corporate tax rate in this sector should be less they said, at the first meeting of the Federation of FBCCI’s Standing Committee on Backward Linkage Industries at FBCCI Icon on Thursday Businessmen want a lowering of the corporate tax to 10-15% from the existing 30%, for backward linkage industries to increase competitiveness. backward-linkage

FBCCI Vice President Mr. M A Momen as chief guest attended the meeting and said, today’s most of the giant companies have started their journey as backward linkage industry. Therefore, the role of this industry in the overall development of the country is undeniable. Industrialization is not possible without development of this sector. If there is no backward linkage, the supply chain of the industry will break down. Therefore, the development of this industry is very important. He called upon the government to give due importance to this sector in setting policy.

According to Press release, Abul Kalam Bhuiyan, chairman of the committee said lowering the corporate tax to 10-15% would help in the development of backward linkage industries  FBCCI Vice President M A Momen said, “Most large companies of today started out as backward linkage industries. Industrialization is not possible without development of this sector

Director-in-charge of the committee Mr. Joshoda Jibon Debnath called upon the backward linkage industrialists to take concerted initiative to establish a separate industrial zone for the sector. He assured cooperation to get the necessary bank loan for this. Also present at the meeting were FBCCI directors Mr. Bijoy Kumar Kejriwal and Mr. Harun or Rashid, co-chairmen of the committee Mr. Chaitanaya Kumar Dey (Chayan), Mr. Md. Salauddin Yusuf, Mr. Zia Hayder Mithu and other members. Also present was FBCCI Secretary General Mr. Mohammad Mahfuzul Hoque.
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