The Dhaka Times Desk Information technology sector will play the most important role in building Smart Bangladesh. Expansion of local software and IT services and the potential to earn foreign exchange from this sector, the extension of tax exemption period for the IT sector is the biggest demand of the time.
Business leaders of national IT sector trade organizations raised this demand in a joint press conference. Bangladesh Association of Software and Information Services (BASIS), Bangladesh Computer Society (BCS), Bangladesh Association of Contact Center and Outsourcing (BAKCO), Internet Service Providers Association (ISPAB) and E-Commerce Association of Bangladesh were present at the press conference held at BASIS Auditorium in Kauranbazar. (E-CAB) is a joint initiative of this press conference. Basis President Russell T Ahmed, BCS President Subrata Sarkar, BAKCO President Waheed Sharif, ISPAB President Md Imdadul Haque and E-CAB Senior Vice President Mohammad Sahab Uddin were present and expressed their views on behalf of their respective associations.
Currently, the annual domestic market size of the software and IT services sector is approximately USD 1.5 billion, while exports reach USD 1.9 billion. According to 'Vision 2041' implementation of Smart Bangladesh is to achieve the government's target of US$ 5 billion export income from the information technology sector by 2029, create world-class capabilities of the information technology industry, ensure foreign exchange reserves, encourage the domestic information technology sector, and gradually grow the local market at the time of own domestic In order to meet that demand through the private IT sector and protect the outflow of highly valuable foreign exchange, it is very necessary to maintain the tax exemption until 2031 to keep the domestic private IT sector competitive in the face of aggressive marketing and market strategies of the foreign IT sector. Therefore, to achieve these goals, the information technology sector should be considered on a priority basis in the budget of the government for the fiscal year 2024-2025.
The tax exemption currently in effect in the IT sector will expire on June 30, 2024. As a result, domestic and foreign investors are not interested in any long-term investment. In addition, new job creation in the information technology sector may be stunted and the cost of doing business for domestic information technology firms may increase significantly, leaving us behind in global competition. Also, there is no option to extend the exemption period from FY 2024-2025 to attract young entrepreneurs and professionals and investors in this information technology business, which is considered as a priority sector and industry declared by the government as a whole.
Last March 10, leaders of five IT organizations including BASIS sent a proposal to Finance Minister Abul Hasan Mahmud Ali demanding the government to extend the tax exemption period till June 2031. Top IT trade bodies have written to the finance minister expressing concern that withdrawal of the tax exemption could reduce the sector's growth, investment and exports.
Basis President Russell T Ahmed said, “If the IT sector is brought under tax, it will not even be 1 percent of the total revenue income. The IT sector is just starting to take off, as we race ahead. At this time, it is not right to threaten a potential sector only for this small income of the government. As the government wants to transform the country into a smart Bangladesh, maintaining tax exemptions in this sector is more important than ever.
We are demanding tax exemption on IT sector till at least 2031 and BASIS has spoken to senior government officials as well as formally written to them. It is hoped that the government will consider the demand for tax exemption very seriously for the purpose of expanding local information technology and earning foreign exchange from this potential sector.
Exemption of tax in this sector not only means that this tax exemption on thousands of companies in the IT sector, it will actually play a positive role in the development of the entire country and the implementation of Smart Bangladesh. BCS president Subrata Sarkar said, "I think that the tax exemption of information technology sector should be kept in force until 2031 for the purpose of building a smart Bangladesh. Bangladesh's local IT sector has seen long-term investment by foreign investors, an industry that has only just started to take off as a result of tax exemptions. So I think there is no option to continue this tax exemption.” BAKCO President Waheed Sharif said, “The success that is being observed in the information technology sector at present has been made possible due to the provision of tax exemptions in this sector. Apparently the government is not getting any revenue from this industry sector. But as these industries generate huge employment and the purchasing power of working professionals is increasing day by day, they are important to the country's economy through payment of personal income tax and value added tax.
Contributing If the tax exemption period is not extended, overall export earnings and new job creation will be disrupted, while new entrepreneurs will lose interest in investing in the industry. As a result, the development of this industry will come to a standstill and a large part of the professionals working in this sector will become unemployed. Therefore, if the tax exemption facility in the IT industry is canceled, the overall economic growth of the country will also be hindered in the future.”
ISPAB President Md. Imdadul Haque said, "It is very important to keep the tax exemption facility in force until 2031 for the desired development of the IT services sector. Also I am reiterating the demand for subsuming the ISPAB industry into the Information Technology Services (ITES) sector. Moreover, in the current competitive internet service, the import-dependent ISP sector's equipment and the reality of the upward movement of the dollar cannot earn 10% on the revenue by bearing the cost of the internet service of all the ISP companies. As a result, all ISPs are facing losses due to additional tax of 10% (AIT) on internet service bills. We strongly demand the abolition of 10% (AIT) on internet services in the next financial year 2024-2025.”
E-CAB Senior Vice President Mohammad Sahab Uddin said, “Technology sector needs special care and facilities for some more time due to changes in technology and other related conditions. Tax exemption is one of them. Through this, the economy will become sustainable and capable. Revoking the exemption now will have a negative impact on this sector. We believe everyone can understand this."
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How to prevent dengue
Dengue is a mosquito-borne viral fever. This fever is different from other viral or bacterial fevers. However, this fever is not contagious in any way. This viral fever can occur alone or in combination with other viruses (chikungunya, yellow fever, Burma forest, flu, respiratory syncytial) and bacteria (pneumococcus).
Dengue fever is divided into two categories depending on the severity of symptoms and fever.
1. Common dengue fever
2. Dengue fever with bleeding.
In the case of common dengue fever, the following symptoms are mainly seen-
1. Sudden high fever lasting 2 to 7 days.
2. Severe headache.
3. Pain behind the eyes.
4. Along with the fever, red rash appears all over the body.
5. Severe pain in whole body as well as back pain.
6. Nausea or vomiting.
7. A rash or red bumps on the skin.
In case of dengue fever with bleeding:
1. Bleeding from nose, mouth or vomiting with high fever within 2 to 48 hours.
2. Fluid accumulation in chest or abdomen along with fever.
If any of these symptoms appear, seek medical attention immediately.
On the other hand
Wait at home for the first 3 days of fever. On the other hand, sponge the whole body with water every now and then. This will reduce the level of fever. Drink enough water and rest. After that, if the fever does not decrease or if it continues to increase after some time, consult a doctor immediately.
Things to do to prevent Dengue:
1. Try to keep the surroundings of the house as clean as possible.
2. If there are flower tubs or broken plastic bottles, can shells, tires or polythene inside the house, clean them quickly and drain the accumulated water from the flower tubs.
3. Spray or fog at least 3 times a week to kill mosquitoes.
4. You can keep mosquito repellent cream with you while going out.
5. After evening, younger and older members of the household should use mosquito nets.
6. Clean up any accumulated rain water, as this is the time when Aedes mosquitoes lay their eggs.
7. On the other hand, you can use mats along with mosquito nets to avoid mosquito infestation.
8. Since Aedes mosquitoes bite during the day, it is important to avoid sleeping with mosquito nets while sleeping during the day. Source: https://dmpnews.org
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