Dhaka, Tue, Apr 2019

Economy

E-Commerce association demands extension of tax holiday

18 February 2019,Monday, 14:04



Members of E-Commerce Association of Bangladesh (E-CAB) on Monday welcomed the Digital Commerce Gazzette-2019 terming it a ‘milestone’ for advancement towards digitisation of country’s business sectors and demanded extension of tax holiday for the sector, UNB reports.

They urged government to acknowledge all sorts of online business as e-commerce activities and demanded extension of vat-tax holiday considering e-commerce a priority sector. They also sought to keep the income tax at a minimum 0.1 percent for e-commerce enterprises.

They came up with the plea at a press conference on ‘Digital Commerce Gazzette-2019 and proposals about digital commerce in coming national budget’ arranged by E-CAB at the Jatiya Press Club.

President of E-CAB Shomi Kaiser urged the government to retain tax holiday for e-commerce enterprises in the upcoming budget of 2019-20 financial year.

“E-commerce will gain more popularity if tax-holiday is retained for the enterprises involved. Also, if any retailer trades online despite having shops outside virtual marketplace; it should also fall under e-commerce and be given the facility,” she added.

E-CAB General Secretary Abdul Wahed Tamal presented proposals from E-CAB for the upcoming budget of 2019-20 financial years.

He demanded change of current definition of ‘online product selling’ and inclusion of proper definition in current gazette.

‘It is indeed a appreciable initiative from the government to publish the policy as gazette in the shortest time. It will be considered as a milestone for e-industrialisation of the country,” said Tamal.

He further said that e-commerce has yet to gain public confidence despite its infrastructural development.

E-CAB put forward a set of proposals for rapid growth of country’s e-commerce sector which included allocation in budget for training of e-commerce entrepreneurs; annexing e-commerce with Information Technology Enabled Service (ITES) definition; vat exemption in renting out office and warehouse; reducing income tax to 0.1 percent and more.

E-CAB executive committee members and Local e-commerce entrepreneurs were also present at the event.

 

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