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‘Exempt poultry industry from 5 percent Vat’
Poultry farming

‘Exempt poultry industry from 5 percent Vat’

Dhaka, June 19 – The leaders of the Feed Industries Association Bangladesh (FIAB) and Breeders Association of Bangladesh (BAB) have urged the government to exempt the poultry industry a 5 per cent Advance Tax (AT) and 5 per cent Advance Income Tax (AIT) on all import of essential raw material of poultry feed, so that it can maintain a competitive market price.
They said, if the government doesn’t withdraw the tax imposition on the imports of poultry feed materials, the production costs of the poultry industry will be increased by 10 per cent.
Expressing deep concern about the move, the leaders of the organizations called for this at a press conference on the proposed budget for the fiscal year 2019-20 at the Paragon House in the capital’s Mohakhali area yesterday.
Ihtesham B. Shahjahan, president of FIAB said recalls of 5 per cent regulatory duty imposed on soybean oil cake; 5 per cent CD and 5per cent ATV on cotton seeds and palm nuts and 5per cent AIT was the prime demand of the year. We had expected that if the demands are met, the costs of poultry feed as well prices of eggs and broiler chickens will be reduced.
“But the imposition has been kept in force on these items and 5 per cent regulatory duties have been imposed on cotton seeds,” he added.
He said about 40 per cent of women entrepreneurs in village level are directly involved in the poultry sector and increase of tax will definitely make them suffers.
Rakibur Rahman Tutul, president of BAB said there is no scope for adjusting the reduced money due to exempt from the Value Added Tax (VAT) of Poultry sector. Therefore, if this provision is applicable, there will be adverse effects on import of machinery, raw materials and the one-day old GP/PS chicken.
“As per the budget proposal, huge amount money will be deducted as Advance Tax. As a result, production process of the child chicken will create a crisis in the current capital. Above all, the production of poultry eggs and meat will be severely damaged,” he said.
Moshiur Rahman, president of Bangladesh Poultry Industries Central Council (BPICC) said the main sufferer will be the general people, who are the consumers of the industry, if the imposition effects . For that we urge the government to think about it. – Staff Reporter