Summary

Topics: Industry, Manufacturing, Tax Pages: 2 (659 words) Published: June 5, 2014
Summary of Work Done by SBMAB
McDonald Steel Building Products Limited (MSBPL) is a Category A member of Steel Building Manufacturers Association of Bangladesh (SBMAB). According to Statement of Subscription of SBMAB published on May 05, 2014, MSBPL is supposed to pay SBMAB BDT 400,000. This amount has been requested as per decision of the SBMAB meeting held on June 08, 2013 regarding the following issues: Working with National Board of Revenue (NBR), Ministry of Trade and Commerce, Ministry of Industries and Ministry of Finance of the Government of Bangladesh for the reduction of tax and duties of the raw materials used in the Steel Building Manufacturing sector as much as possible Providing for legal expenditure of SBMAB till date

According to the documents recently sent by SBMAB to MSBPL, SBMAB has been on the pursuit to incentivize the Steel Building Manufacturing sector and has taken the following steps: Applied to the Ministry of Trade and Commerce, Ministry of Industries and Ministry of Finance of the Government of Bangladesh on February 16, 2014 to have meetings with the respective ministers Applied to the President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on February 19, 2014 to make recommendation to the Government of Bangladesh in favor of raw material tax reduction and incentivizing of the Steel Building Manufacturing sector in preparing the National Budget Proposal for the fiscal year of 2014-2015 Applied to the Chairman of NBR on April 17, 2014

to reduce the tax on raw materials used in the Steel Building Manufacturing sector to the minimum level, to reduce the tax of some of the finished products such as Purlin, Floor Deck etc. which are in fact used as raw materials in prefab steel building manufacturing to eliminate the discrimination in duty incidence (as for some of the products used for roofing and cladding of prefab steel structure, VAT registered Refrigerator and Air-Conditioner Manufacturing Industry...
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