National Budget FY25: Three-year tax exemption for cashless tech jobs
Image: Sergey Zolkin/Unsplash
Finance Minister Abul Hassan Mahmood Ali has just announced the proposed budget for the fiscal year 2024-25 for Bangladesh. Among the several announced import duty increases and decreases of products, the Finance Minister has put forward a proposition to exempt from tax the incoming arising from several tech-related business activities, on the condition that the business holder is a resident or a non-resident Bangladeshi. Furthermore, the tax exemption will last three years and only on the condition that all business activities of such a person are cashless.
The mentioned tech-related business activities applicable for this tax exemption are:
- AI-based solution development
- Blockchain-based solution development
- Robotics process outsourcing
- Software as a service
- Cyber security service
- Digital data analytics and data science
- Mobile application development service
- Software development and customisation
- Software test lab service
- Web listing, website development and service
- IT assistance and software maintenance service
- Geographic Information Service
- Digital animation development
- Digital graphics design
- Digital data entry and processing
- E-learning platform and e-publication
- IT freelancing
- Call center service
- Document conversion, imaging and digital archiving
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