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Draft policy prepared for allowing investment abroad
Sohel Hossain Patwary
18th April, 2021 11:45:43
The government has prepared the draft of a policy to allow Bangladeshi investors to invest in other countries.
The draft policy titled ‘Bangladeshis Foreign Investment Abroad-2021’ will allow only the local export-oriented businesses to invest in similar businesses in other countries.
According to the draft policy, export-oriented businesses can invest overseas in the form of equity investment. They can invest up to 25 per cent of their net annual export of the past five years as an. Loan defaulters will not get eligible for this opportunity.
The investors will have to bring in the country their receivables profit, dividends, salaries, royalties, technical fees, consultancy fees, commissions within 90 days.
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Will leave business if tax anomalies not removed: Syed Nasim Manzur
He criticises ‘hostile’ taxation system
Staff Correspondent 19th April, 2021 09:05:16
Country’s entrepreneurs are subjected to a ‘hostile’ taxation system which is detrimental to boosting local and foreign investments, Managing Director of Apex Footwear Ltd Syed Nasim Manzur has said.
Investors are facing stepmother-like behaviour from the authorities concerned, he said, adding that although an industrialist suffers losses, he/she will not be exempted from the tax under the current system.
Nasim Manzur made the remarks while speaking at a webinar organised by Economic Reporters’ Forum (ERF) as a panelist on Saturday.
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Experts for concerted steps to ensure smooth LDC graduation
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DHAKA, Dec 20, 2020 (BSS) – Experts at a webinar today stressed the need for taking some concerted steps like promoting export competitiveness, reducing dependency on revenue from imports, raising the tax-GDP ratio as well as expanding the tax net, and putting utmost priority to the trade policy options with EU and UK in a bid to ensure smooth LDC graduation of Bangladesh.
They also suggested for prioritizing those FTAs only where export market access is critical, becoming selective about FTAs as “mad rush” to any FTA will not yield good, and offsetting costs to improve competitiveness for Bangladesh.
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