ICT division wants corporate tax exemption for IT sector until 2030

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The Information and Communications Division (ICT) will ask the Ministry of Finance to extend the corporate tax exemption for information technology companies from 2024 to 2030.

Zunaid Ahmed Palak, the Minister of State for ICT, said in a meeting with the newly elected Executive Committee of Basis, chaired by its Chairman Russell T Ahmed, on Sunday that more benefits should be given to the ICT sector. information to achieve the $5 billion export goal. by 2025.

At the meeting, the ICT Division and the Bangladesh Association of Software and Information Services (BASIS) pledged to work together to implement the government’s announced Vision 2041 on expanding local markets and international markets, industry branding, policy support and the creation of an enabling business environment. environment.

Palak said prominence was given to the IT sector by declaring information technology as the product of the year. “To take advantage of these opportunities, we will work with Basis in a public-private joint venture to create qualified human resources, formulate and revise policies, technology and innovation, investment and coordination. We will have a joint task force,” said he declared. .

Palak added that 13 years ago, export revenue in the ICT sector was only $26 million, but now, thanks to policy support and infrastructure development, the ICT industry was generating $1.3 billion in export earnings.

The minister said the government’s policy support has resulted in more than $800 million in foreign investment in the ICT sector over the past five years, which will increase in the future.

He added that the government was setting up 39 high-tech parks across the country, with Sheikh Kamal IT training and incubation being carried out in 64 districts. A total of 134 infrastructures are under construction in the high-tech parks.

“We need to build qualified human resources now,” he said, adding that sustainable development was not possible without a knowledge-based economy.

“After Digital Bangladesh, we will opt for Innovative Bangladesh. For this, I will form a joint working group with Basis. The working group will work on various issues including education, health and trade.”

Palak said the government is working to push the ICT sector forward and that Startup Bangladesh Limited, a state-owned venture capital firm, invests in startups.

The company, under the ICT division, had previously invested in seven companies, including Pathao Limited, Seba XYZ, Mind Friend and others.

He said the government has a fund of Tk 500 crore for this and more will be invested, adding that Basis members get loans at 4% interest without collateral.

During the exchange, grassroots chairman Russell T Ahmed said: “We are lucky to get a lot without asking. At the beginning of the year, the Prime Minister declared IT as the product of the year. It is a great achievement for us. . We are working to implement this statement.”

Principal Secretary of ICT Division, NM Ziaul Alam PAA, Additional Secretary Md Khairul Amin, and Chief Executive Officer and Additional Secretary of Bangladesh Hi-Tech Park Authority, Bikarna Kumar Ghosh were present at the occasion. .

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