Friday, November 8, 2024
spot_img
spot_imgspot_img
HomeNews & ViewsSustainabilityGovt extends tax break for renewable power by 5 years

Govt extends tax break for renewable power by 5 years

The investors who will start commercial production from July 2025 to June 2030 will enjoy tax breaks on income from renewable energy power plants

renewable energy

The National Board of Revenue (NBR) has extended the tax exemption period for renewable energy-based power plants by five years to attract potential investors in that area. 

On 26 June 2023, Sheikh Hasina government withdrew the full tax break in this sector and introduced a tax exemption for ten years for investment within June 2025.

According to a statutory regulatory order (SRO) of NBR issued today (29 October), the investors who will start commercial production from July 2025 to June 2030 will enjoy tax breaks on income from renewable energy power plants.

“The investors will enjoy a 100% income tax break for the first five years of starting the commercial production, a 50% exemption on income derived from this power sector for the next three years, and a 25% exemption for the subsequent two years,” according to the order.

The tax exemption has been offered since 2011 to support the now-deposed government goal of expanding the country’s energy production capacity.

YOU MAY ALSO LIKE
- Advertisement - spot_img

Join Our Weekly Newsletter

spot_img

Upcoming Events

 

Simillar News

Recent Random

Blucheez Outfitters proudly announces the successful completion of its latest LEAP Workshop on Retail Operations Management, held at the Chittagong outlet

Blucheez Outfitters proudly announces the successful completion of its latest LEAP Workshop on Retail Operations Management, held at the Chittagong outlet. This hands-on workshop,...

5th Academia-Industry-Nexus Session on Job Matching organized by Reed Consultancy & HELD, GIZ

5th Academia-Industry-Nexus Session on Job Matching organized by Reed Consultancy & HELD, GIZ After the registration process was completed, the session started with opening remarks...

M. A. Jabbar becomes new president of BEZIA

MA Jabbar, managing director of DBL Group, has been elected as the president of the Bangladesh Economic Zones Investors' Association (Bezia). Mr. Jabbar is the...