Country's indenting sector will be able to play a significant role in flourishing Indenting business in the country and creating entrepreneurship development in this sector if the existing VAT is withdrawn, said the leaders of the Bangladesh Indenting Agents’ Association in it's post budget press conference.
They said besides, it will encourage ethical business practices in promotion of business and economic performance of the country.
"Considering above, we, the Indenting business community , strongly urge the NBR to withdraw VAT from Indenting services at the earliest so that Indentors can play more role in promotion of economic development of the country", said Advocate Rafiqul Islam Masum, the President of the Association while addressing the conference.
He said the Members of the Association i.e Indentors are the authorized representatives of foreign companies/suppliers/manufacturer in Bangladesh. They export their services abroad to promote/sell all sought of quality products in Bangladesh market with a competitive prices.
By exporting services abroad to the foreign companies/suppliers/manufacturer, they earn foreign currency as ‘Service Export Earning’ through banking channel and thus play a significant role in economic performance of the country. Indenting is an important sector of foreign exchange earing in Bangladesh, Masum added.
BIA leaders also said it is worth mentioning that BIAA attended pre-budget meeting with NBR and placed their recommendation to withdraw VAT form Indenting Service as per existing Acts & Laws in force.
Besides, FBCCI also placed their post budget recommendation and sought strongly to withdraw VAT from Indenting Service.
