DHAKA: Finance Minister AHM Mustafa Kamal said two percent incentive will be given on remittance since 1 July.

“He said Bangladesh Bank is working on this. If anyone sends remittance of Taka 100, they will get Taka 102. No tax or service charge will be deducted in this case,” the minister briefed media at the Secretariat on Monday (July 23).

National Revenue Board (NBR) Chairman Mosharraf Hossain Bhuiyan was present there. 

The Finance Minister said two percent incentive is expected to be given to remittance in the current fiscal year (2019-20). However, the government could not implement it, because policy has not been formulated yet. Our system needs to be updated. It will take another two to three months

The minister said: “Many people are now thinking that if anyone sends remittance to the country ahead of Eid, they will not get the incentive. This is not so. Since it was passed in the budget, now two percent incentive will be given even after six months of sending the remittance, in other words, those who are sending remittance from1 July, they will get 2 percent incentive.”

“We are working fast to develop the system in this case.  Such incentives will be given for the first time in the history of Bangladesh,” the minister said adding Tk. 30060 crore was proposed to allocate in the new budget.     

BDST: 1825 HRS, JULY 29, 2019

AH/SMS