10pc import tax on rental power plant equipment
The National Board of Revenue (NBR) yesterday fixed 10 percent flat tax on import of machinery and equipment for rental power plants.
The decision was taken following a written proposal from the power ministry to flatten all taxes, involving rental power, to six percent by following the same practice in Pakistan and Sri Lanka. The NBR will soon issue a circular in this regard.
The government's Power Cell recently prepared fresh bid documents to set up six power plants with a total production capacity of around 300 megawatt on three-year rental terms to meet rising power demand in the next summer.
The cell recently finalised a draft request for proposal and a draft contract to set up four 50 MW rental plants at Fenchuganj, Kumargaon, Shahjibazar and Ashuganj and two 20 MW rental plants in Bogra and Bhola.
Now, power plants builders have to pay around 30 percent taxes at different levels, which include advance income tax, customs duty and value added taxes.