Exemption on the Companies who have signed contracts to build power plants by June 30, 2024.

SRO no. 281-Act/Income Tax 13/2023
The National Board of Revenue, under the Income Tax Act, 2023 (Act No. 12 of 2023), providing a substantial tax exemption to private power generation companies in Bangladesh engaged in coal-based electricity production as of June 30, 2020. The exemption, applicable to companies contracted to establish power plants by June 30, 2024, allows for a 15-year waiver of income tax on power generation earnings, along with exemptions on income of foreign personnel for the initial three years, interest on foreign loans, royalties, technical fees, and capital gains from share transfers. Companies must adhere to specified conditions, including compliance with the Income Tax Act and fulfillment of Private Sector Power Generation Policy requirements. The notification repeals S.R.O. No. 213-Act/Income Tax/2013, effective immediately upon issuance.