Bangladesh, Jan. 18 -- The National Board of Revenue (NBR) has decided to make reduced rate of source tax, 0.25 per cent, on export proceeds effective from January, 1, 2019.
The board will issue a clarification today (Friday), mentioning the date of effectiveness of the reduced rate of source tax, officials said.
A senior official of NBR's Income Tax Wing said the 0.25 per cent source tax for exporters will be effective from the date on which the Statutory Regulatory Order (SRO) in this regard was issued.
As the date of effectiveness was not mentioned in the SRO, issued on January 1, 2019, it was assumed that the reduced rate came into effect from July 1, 2019.
Another tax official said as per the SRO, the date of effectiveness of the s...