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20 June, 2019 10:32:42 AM

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Poultry sector worried over tax burden

Staff Reporter
Poultry sector worried over tax burden

Leaders of the Feed Industries Association Bangladesh (FIAB) and the Breeders' Association of Bangladesh (BAB) have urged the government to exempt the poultry industry from the 5 per cent advance tax (AT) and the 5 per cent advance income tax (AIT) on imports of essential raw materials needed to prepare poultry feed.

They said if the government does not withdraw the tax on imports of poultry feed materials, the production cost in the poultry industry will increase by 10 per cent.

They also expressed deep concern over the government’s proposed budget for FY2019-20.

They were speaking at a press conference at the Paragon House in the capital’s Mohakhali area yesterday.

FIAB president Ihtesham B. Shahjahan said: “The government must withdraw the 5 per cent regulatory duty on soybean oil cake.

It must also withdraw  5 per cent ATV on cotton seeds and palm nuts along with the 5 per cent AIT. We hope if the demands are met, the costs of poultry feed as well as prices of eggs and broiler chicken will come down.”

He also said the tax hike will hit hard around 40 per cent of women entrepreneurs directly involved in the poultry sector.

BAB president Rakibur Rahman Tutul said such taxes would adversely impact imports of machinery, raw materials and the one-day old GP/PS chicken.

“As per the budget proposal, a huge amount will be deducted as AT. So, the production process of chicken will face a crisis. Above all, the production of poultry eggs and meat will be severely affected,” he added.

Moshiur Rahman, president of the Bangladesh Poultry Industries Central Council (BPICC), said the main sufferer will be the common people. “That's why we have been urging the government to withdraw the taxes,” he added.

KK

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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