IT entrepreneurs seek tax waiver for few more years | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Thursday
July 24, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
THURSDAY, JULY 24, 2025
IT entrepreneurs seek tax waiver for few more years

NBR

TBS Report
24 April, 2024, 10:35 pm
Last modified: 25 April, 2024, 12:59 pm

Related News

  • US yet to confirm third-round talks as tariff deadline looms
  • Khulna Power to sell second plant to Turkish firm
  • Milestone plane crash: Students were preparing for coaching after class
  • Milestone crash: Indian medical team arrives in Dhaka
  • 13 political parties urge CA to announce specific election date

IT entrepreneurs seek tax waiver for few more years

Tech entrepreneur and former BASIS president AKM Fahim Mashroor said the government assessment stating the tax exemption cost the government Tk1,470 crore a year is not realistic at all.

TBS Report
24 April, 2024, 10:35 pm
Last modified: 25 April, 2024, 12:59 pm
Representational Photo: Collected
Representational Photo: Collected

The tax waiver for the software and ITES (IT-enabled services) sector, set to end this fiscal year, should be continued for the next few years for the sake of local firms' competitiveness and their contribution to building a Smart Bangladesh by 2041, technology entrepreneurs urged at a roundtable in the capital on Wednesday (24 April).

At the roundtable titled "Tax Policy Suggestions for Promoting Local Tech Startups," jointly organised by the Venture Capital and Private Equity Association of Bangladesh (VCPEAB), the Bangladesh Association of Software and Information Services (BASIS), the Institute of Informatics and Development (IID), and the EdTech Society, speakers said the revenue the government might get from taxing the potential sector would be much less than its other contributions to the national exchequer.

Tech entrepreneur and former BASIS president AKM Fahim Mashroor said the government assessment stating the tax exemption cost the government Tk1,470 crore a year is not realistic at all.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

In fact, some 5,000 IT and startup firms, paying around Tk9,000 crore in salaries to their tens of thousands of employees a year, are now making Tk1,000 crore in total profits that should increase government revenue by Tk200-300 crore a year.

The corporate tax waiver, on the other hand, helps the government with much more income tax from industry employees, as most of them have already been taxpayers.

Supportive taxation helped flourish the sector over the years, and if the waiver is withdrawn now, the government might end up losing more revenue than it would add in the next 5-10 years, said VCPEAB Chairman Shameem Ahsan.

In his keynote, tax policy expert Snehasish Barua, a partner of Snehasish Mahmud and Co, said most of the firms are small and would lose competitiveness if tax benefits were withdrawn, as it would add to their costs both for tax payment and tax compliance.

As a result, foreign firms would take over the flourishing businesses, and local talents would be discouraged, he added.

Twenty startup founders called for making tax policies and a tax collection process suitable for supporting the growth of the sector. They said startups have made nearly a billion dollars in investments in the last decade, and the potential is much bigger.

Tech investors need a predictable tax policy for the next 5-10 years, they added.

BASIS Senior Vice President Samira Zuberi Himika, VCPEAB Director Shawkat Hossain, and IID founder and CEO Syeed Ahamed were among the speakers.

Bangladesh / Tech

tech / Bangladesh / NBR

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Representational image. Photo: Collected
    Bangladesh, US set for crucial virtual meeting tomorrow over tariff issue
  • Photo: PID
    No party symbols in local govt elections: Advisory Council
  • What led to BB's dress code circular, will any action be taken against those involved?
    What led to BB's dress code circular, will any action be taken against those involved?

MOST VIEWED

  • Photo: Collected
    Bangladeshi man jailed for life in UK for murdering wife in front of their baby
  • Ctg port authority halts contractor recruitment for Kamalapur ICD operations for two months
    Ctg port authority halts contractor recruitment for Kamalapur ICD operations for two months
  • Fire at Cosmo School in Mirpur on 23 July 2025. Photo: TBS
    Fire breaks out at Cosmo School in Mirpur following generator explosion
  • Representational image. File Photo: Rajib Dhar/TBS
    Debate arises as edu adviser says postponed HSC exams of 22 and 24 July will be held on same day
  • BB issues dress code for all, discourages short-sleeved or length dresses, leggings for female staff
    BB issues dress code for all, discourages short-sleeved or length dresses, leggings for female staff
  • Infographics: TBS
    Stay orders won’t shield defaulters: BB governor 

Related News

  • US yet to confirm third-round talks as tariff deadline looms
  • Khulna Power to sell second plant to Turkish firm
  • Milestone plane crash: Students were preparing for coaching after class
  • Milestone crash: Indian medical team arrives in Dhaka
  • 13 political parties urge CA to announce specific election date

Features

Photo: Collected

24 July: More than 1400 arrested, 3 missing coordinators found

16h | Panorama
Photo: Mehedi Hasan/TBS

Aggrieved nation left with questions as citizens rally to help at burn institute

2d | Panorama
Photo: Mehedi Hasan/TBS

Mourning turns into outrage as Milestone students seek truth and justice

1d | Panorama
Illustration: TBS

Uttara, Jatrabari, Savar and more: The killing fields that ran red with July martyrs’ blood

2d | Panorama

More Videos from TBS

All aboard crashed plane feared dead: Tass

All aboard crashed plane feared dead: Tass

28m | TBS News Updates
Remembering Shafin Ahmed

Remembering Shafin Ahmed

48m | Others
Gaza relief workers are being shot at

Gaza relief workers are being shot at

53m | TBS World
Decisions taken by the advisory council in the Milestone School plane crash

Decisions taken by the advisory council in the Milestone School plane crash

1h | TBS Today
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net