Bangladesh Shipbreaking: CCCI urges FM to withhold AIT on scrap ship import:

Traders and businesses in Chittagong have requested the government to withhold the advance income tax (AIT) on import of scrap vessels for the sake of flourishing shipbreaking and ship building industry.

In an urgent fax message to the Finance Minister today the president of Chittagong Chamber of Commerce and Industry Morshed Murad Ibrahim said the shipbreaking sector is playing a vital role in the national revenue, earning foreign currency and generating employment.

He opined that development of the potential sector will be hampered because of imposing AIT on import of ships for scrapping.

Considering the fact the CCCI chief requested the and the concerned authorities to withhold the tax for boosting up the industry.

Source: The Financial Express. 9 August 2011 

http://www.thefinancialexpress-bd.com/more.php?page=detail_news&news_id=145634&date=2011-08-09