Bangladesh poultry industry asks for tax exemption

Bangladesh's poultry industry has applied for tax cuts and tax exemptions for fiscal year 2021-22 to offset the losses incurred during the covid-19 pandemic and allow the industry to enter the EXPORT market by 2025.

The poultry industry has suffered a loss of US$825 million due to the pandemic, and the poultry feed industry has already suffered a loss of around US$98 million from January to May this year, the Bangladesh Poultry Central Council (BPICC) said.

According to the Dhaka Tribune, in 2020 the prices of poultry products hit a 12-year low due to the pandemic, and according to a survey conducted last June, 35-40% of feed production and about 40-50% of drug sales and pharmaceutical products used in the production of poultry products have decreased.

The Council proposed to extend all advance tax, advance income tax, taxes and duties, VAT, etc. benefits for at least another 10 years. Entrepreneurs in the poultry sector have proposed reducing the corporate tax for feed producers from 15% to 5%.

Mr. Ahsanuzzaman, Secretary General of the Bangladesh Feed Producers Association, called on the government to revive and protect the poultry industry, noting that poultry farming is a source of employment for 6 million people in the country.