Venture Capital and Private Equity Association of Bangladesh (VCPEAB) Monday demanded of the government to withdraw stamp duty on Collective Investment Scheme (CIS).
It also demanded tax exemption for the Alternative Investment Fund Managers and High Net Worth Individuals (HNI).
The VCPEAB Chairman Shameem Ahsan and Secretary General Shawkat Hossain made the pre-budget proposals to Md. Mossharaf Hossain Bhuiyan, Chairman, National Board of Revenue (NBR) at the NBR office.
Shameem Ahsan, also general partner of Fenox Venture Capital and Chairman of eGeneration Group, said as evidenced in Silicon Valley and other major tech hubs, venture capital plays a significant role in nurturing the new IT & ITES startups and entrepreneurs and thus helps employment generation and overall economic growth.
He said with proper policy support, more venture capital investment will enrich the IT sector in Bangladesh.
“From VCPEAB, we are aiming to ensure a supportive ecosystem for the VC/PE industry. We are positive that the industry will go a long way with the supports we have been receiving from Ministry of Finance, NBR, ICT Division, Bangladesh Securities and Exchange Commission (BSEC) and Bangladesh Bank,” he added.
Shawkat Hossain, Secretary General of VCPEAB and Managing Director of BD Venture Ltd discussed the major role of venture capital and private equity funds in the development of all industries, including IT.
The NBR chairman assured that the revenue board will provide necessary support to help the tech sector and venture capital industry in Bangladesh.
