Tax incentive for industrial establishments manufacturing compressors

NBR, under the powers granted by sub-section (1) of section 76 of the Income-tax Act, 2023 (Act No. 12 of 2023) has reduced the income tax rate to 20% on business income for industries that have the capacity to manufacture complete freezers, refrigerators, motorcycles, air conditioners, and compressors with spare parts, subject to the below conditions.
Conditions:
1. Must be registered under the Companies Act, 1994.
2. Comply with section 76(5) and (6) of the Income Tax Act, 2023.
3.Must have its own mold and die-making capacity, polyurethane foaming plant, powder coating plant, and active waste management plant.
4. Must be approved by the National Board of Revenue (NBR).
5. Cannot be formed by reorganization or machinery transfer from another business in Bangladesh.
6. Non-compliance may result in withdrawal of NBR approval.
This rate is effective from FY 2025-2026  to June 30, 2032.
* SRO No. 325-Act/Income Tax/2021 is repealed by the NBR authority.