Proposed budget SME friendly: SME Foundation
SME Foundation today termed the proposed budget for 2021-22 fiscal year as an SME friendly budget as many of their proposals were taken into account.
But, there are still some unmet proposals and some of them would be sent to the National Board of Revenue again, the apex institution for the development of small and medium enterprises (SMEs) said at a press conference.
This is not only a business-friendly budget but also SME friendly, said Md Mafizur Rahman, managing director of SME Foundation.
The budget proposed reducing the tax for non-listed companies to 30 per cent from 32.5 per cent, which would be fruitful for SMEs, he said.
Advance income tax on raw materials may also be reduced and the import duty has been planned to increase on some products that are produced in the local SME sector, Rahman said.
Among SME Foundation's 63 proposals, the government has taken consideration 14, he said while presenting a written speech.