প্রিন্ট ভিউ
প্রথম অধ্যায়
প্রারম্ভিক
দ্বিতীয় অধ্যায়
Motor Vehicles Tax Act, 1932 (Ben. Act I of 1932) এর সংশোধন
তৃতীয় অধ্যায়
Customs Act, 1969 (Act IV of 1969) এর সংশোধন
চতুর্থ অধ্যায়
The Motor Vehicles Ordinance, 1983 (Ord. No. LV of 1983) এর সংশোধন
পঞ্চম অধ্যায়
Income Tax Ordinance, 1984 (Ord. No. XXXVI of 1984) এর সংশোধন
Period of Exemption | Rate of Exemption |
For the first two years (first and second year) | 100% of income |
For the next two years (third and fourth year) | 50% of income |
For the last one year (fifth year) | 25% of income |
Period of Exemption | Rate of Exemption |
For the first three years (first, second and third year) | 100% of income |
For the next three years (fourth, fifth and sixth year) | 50% of income |
For the last one year (seventh year) | 25% of income |
(2) For the purpose of this section,-
(a) ''industrial undertaking'' means :
(i) an industry engaged in the production of textile, textile machinery, jute goods, high value garments, pharmaceuticals, melamine, plastic products, ceramics, sanitary ware, steel from iron ore, MS Rod, CI Sheet, fertilizer, insecticide and pesticide, computer hardware, petro-chemicals, agriculture machinery, boilers, compressors, basic raw materials of drugs, chemicals and pharmaceuticals and any other category of industrial undertaking as the Government may by notification in the official Gazette specify;
Explanation: 'high value garments' means overcoats, jackets and suits.
(ii) an industry engaged in agro-processing, ship building, diamond cutting and any other category of industrial undertaking as the Government may by notification in the official Gazette specify;
(c) ''tourism industry'' means residential hotel having facility of three star or more and any other category of tourist industry facility as the Government may by notification in the official Gazette specify.
(3) Notwithstanding anything contained in sub-section (2), for the purpose of this section industrial undertaking, tourism industry or physical infrastructure facility shall not include expansion of an existing undertaking.
(4) The exemption under sub-section (1) shall apply to the said undertaking if it fulfils the following conditions, namely:-
(a) that the said undertaking is owned and managed by-
(i) a body corporate established by or under any law for the time being in force with its head office in Bangladesh; or
(ii) a company as defined in the Companies Act, 1913 (VII of 1913) or Companies Act, 1994 (Act No. 18 of 1994) with its registered office in Bangladesh and having a subscribed and paid up capital of not less than ten lakh taka on the date of commencement of commercial production or operation;
(b) that thirty percent of the exempted income under sub-section (1) is invested in the said undertaking or in any new industrial undertaking during the period of exemption or within one year from the end of the period to which the exemption under that sub-section relates and in addition to that, another ten percent of the exempted income under sub-section (1) is invested in each year before the expiry of three months from the end of the income year in the purchase of shares of a company listed with any stock exchange, failing which the income so exempted shall, notwithstanding the provisions of this Ordinance, be subject to tax in the assessment year for which the exemption was allowed:
Provided that the quantum of investment referred to in this clause shall be reduced by the amount of dividend, if any, declared by the company enjoying tax exemption under this section.
(c) that the said undertaking is not formed by splitting up or by reconstruction or reconstitution of business already in existence or by transfer to a new business of any machinery or plant used in business which was being carried on in Bangladesh at any time before the commencement of the new business;
(d) that the said undertaking is approved, and during the relevant income year, stands approved by the Board for the purposes of this section;
(e) that the application in the prescribed form for approval for the purposes of this section, as verified in the prescribed manner, is made to the Board within six months from the end of the month of commencement of commercial production or operation.
(5) Notwithstanding anything contained in this section, where an undertaking enjoying exemption of tax under this section is engaged in any commercial transaction with another undertaking or company having one or more common sponsor directors, and during the course of making an assessment of the said undertaking if the Deputy Commissioner of Taxes is satisfied that the said undertaking has purchased or sold goods at higher or lower price in comparison to the market price with intent to reduce the income of another undertaking or company, the exemption of tax of that undertaking shall be deemed to have been withdrawn for that assessment year in which such transaction is made.
(6) The Board shall give its decision on an application made under clause (e) of sub-section (4) within forty five days from the date of receipt of the application by the Board, failing which the undertaking shall be deemed to have been approved by the Board for the purposes of this section:
Provided that the Board shall not reject any application made under this section unless the applicant is given a reasonable opportunity of being heard.
(7) The Board may, on an application of any person aggrieved by any decision or order passed under sub-section (6), if the application is made within four months of the receipt of such decision or order, review the previous decision, order or orders and pass such order in relation thereto as it thinks fit.
(8) The income, profits and gains of the undertaking to which this section applies shall be computed in the same manner as is applicable to income chargeable under the head ''Income from business or profession'':
Provided that in respect of depreciation, only the allowances for normal depreciation specified in paragraph 3 of the Third Schedule shall be allowed.
(9) The income, profits and gains of the undertaking to which this section applies shall be computed separately from other income, profits and gains of the assessee, if any, and where the assessee sustains a loss from such undertaking it shall be carried forward and set off against the profits and gains of the said undertaking for the next year and where it cannot be wholly set off, the amount of the loss not so set off, shall be carried forward for the following year and so on, but no loss shall be carried forward beyond the period specified by the Board in the order issued under sub-section (6) or (7).
(10) Unless otherwise specified by the Government, nothing contained in this section shall be so construed as to exempt the following from tax chargeable under this section:-
(a) any dividend paid, credited or distributed or deemed to have been paid, credited or distributed by a company to its share-holders out of the profits and gains;
(b) any income of the said undertaking classifiable as ''Capital gains'' chargeable under the provisions of section 31;
(c) any income of the said undertaking resulting from disallowance made under section 30.
(11) Where any exemption is allowed under this section and in the course of making assessment, the Deputy Commissioner of Taxes is satisfied that any one or more of the conditions specified in this section are not fulfilled, the exemption shall stand withdrawn for the relevant assessment year and the Deputy Commissioner of Taxes shall determine the tax payable for such year.
(12) Any such undertaking approved under this section may, not later than one year from the date of approval, apply in writing to the Board for the cancellation of such approval, and the Board may pass such order or orders thereon as it may deem fit.
(13) Notwithstanding anything contained in this section, the Board may, in the public interest, cancel or suspend fully or partially any exemption allowed under this section.
(14) The Board may make rules regulating the procedure for the grant of approval under sub-section (6), review under sub-section (7), furnish information regarding payment of other taxes by the said undertaking, and take such other measures connected therewith or incidental to the operation of this section as it may deem fit."
ষষ্ঠ অধ্যায়
মূল্য সংযোজন কর আইন, ১৯৯১ (১৯৯১ সনের ২২ নং আইন) এর সংশোধন