Advance tax cut for newspaper industry in next budget will be considered: NBR chair 

National Board of Revenue (NBR) Chairman Abdur Rahman Khan has said the regulator will consider the issue of reduction in the advance income tax (AIT) on the import of newsprint used in the newspaper industry in the upcoming budget for the fiscal year 2025-26.

"We will consider the issue of AIT reduction," he said during a pre-budget discussion with the Newspaper Owners' Association of Bangladesh (NOAB) at the NBR headquarters in Agargaon, Dhaka, today.

Currently, the AIT on newspaper imports is set at 5%.

Abdur Rahman also said the imported newsprint would be assessed based on its actual value at the customs station, rather than its recorded value. "Unless we have concrete proof of misdeclaration, assessments should not be made arbitrarily," he added.

During the meeting, NOAB leaders urged the government to reduce customs duty, value-added tax (VAT), and corporate tax, citing ongoing financial losses faced by the industry. However, the NBR chairman suggested that corporate tax and VAT rates should remain uniform across all sectors.

NOAB President AK Azad highlighted the heavy tax burden on newspapers. 

"With a 5% customs duty, 15% VAT, and 5% AIT, the total tax burden on newspaper imports stands at around 30%," he said.

Azad called for a reduction in customs duty and a decrease in VAT to 5%.

He also pointed out that under the previous caretaker government, newspaper imports were exempt from customs duty, but alleged that the subsequent political regime expected favourable media coverage in exchange for benefits.

Matiur Rahman, editor of The Daily Prothom Alo, shared the industry's financial struggles, saying, "For the past 16 years, this industry has received no benefits from the government. Before attending this discussion, we assumed we wouldn't get anything—but we participated nonetheless."

The Financial Express Editor Shamsul Huq Zahid was also present at the discussion.