Bangladesh Jeweller`s Association (BAJUS) on Thursday urged the National Board of Revenue (NBR) for a 10-year tax holiday for the gold refinery industry and setting up Electronic Fiscal Device (EFD) in 40,000 jewellery establishments across the country.
BAJUS, the apex organisation of jewellers in the country, during the pre-budget discussion with the NBR, made the proposals. The pre-budget discussion was held at the NBR Building in Agargaon in the capital on Thursday.
NBR Chairman Abu Hena Md. Rahmatul Muneem in the chair, NBR members, senior officials, BAJUS general secretary Badal Chandra Roy, and other members of the BAJUS Executive committee were present in the meeting.
BAJUS proposed a 3 percent VAT on gold, a tax exemption on jewellery, and a reduction of customs duty on unrefined or partially refined gold imports.
BAJUS general secretary told UNB that they demanded an amendment to gold policy to stop bringing gold bars for tourists.
He also proposed tax-free limit of gold import to 50 grams instead of current 100grams.
BAJUS suggested harmonising baggage rules and giving the benefit of a one-time baggage rule to a passenger.
Earlier the NBR cut tax-free gold to 100 grams from 200 grams. Bangladeshi migrant workers were becoming worried over the NBR decision. But gold traders are not satisfied yet and they again want to cut the tax-free gold import limit for travellers and migrant workers.
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