NBR exempts Petrobangla from tax on previous LNG imports
But, advance tax is generally imposed on LNG shipments that were imported before the tax waiver order
The National Board of Revenue (NBR) has exempted Petrobangla from paying 5 percent advance tax for importing Liquefied Natural Gas (LNG), on a retrospective basis.
A special order signed by the First Secretary (Vat Policy) Kazi Farid Uddin was issued on Tuesday in this regard.
"As per the previous Statutory Regulatory Order (SRO) issued on October 13, 2019, Petrobangla as a government organisation is not required to pay the advance tax for importing LNG," reads the order.
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But, advance tax is generally imposed on LNG shipments that were imported before the tax waiver order.
The order, however, says the NBR has now waived the tax from those shipments considering the public interest.
Petrobangla has been importing LNG since August 18, 2018. Besides the public sector, the private sector also can import the gas.
Later, all types of taxes except a 15 percent VAT were waived on LNG imports.
