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E-commerce companies in Bangladesh recently urged the government to withdraw the minimum tax on turnover, revise the rate of tax deducted at source (TDS) and review the bar on their promotional expenses as the sector is still at a nascent stage. The e-Commerce Association of Bangladesh (e-CAB) made these requests at a discussion ahead of the 2022-23 budget organised by the National Board of Revenue (NBR).
The association also called for introducing digital value-added tax (VAT) challan and withdrawing the obligatory VAT-registration system for the companies having an annual turnover up to Tk 30 million.
NBR chairman Abu Hena Mohammad Rahmatul Muneem presided over the meeting.
Bangla e-commerce firms have urged the government to withdraw the minimum tax on turnover, revise the rate of tax deducted at source and review the bar on their promotional expenses as the sector is still nascent. The e-Commerce Association of Bangladesh made these requests at a meeting ahead of the 2022-23 budget organised by the National Board of Revenue.
The e-CAB representatives said there is ambiguity in the definition of online retail and market place, which needs to be upgraded, and taxes and other duties should be imposed accordingly.
“Only three to four per cent of the total population make online purchase here, which is over 25 per cent for many countries,” e-CAB member Fahim Mashroor was quoted as saying by Bangladeshi media reports.
Fibre2Fashion News Desk (DS)
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