The Internal Resources Division (IRD) under the Ministry of Finance (MoF) has waived Tk 580 million stamp duty of the Summit LNG Terminal Co (Pvt) Ltd.
The IRD recently issued a gazette waiving the non-tax revenue.
The tax has been waived following clauses of the implementation agreement between the company and the Department of Energy and Mineral Resources to establish a floating, storage and regasification unit (FSRU) having 500 mmcfd (million cubic feet per day) capacity at Moheskhali in Cox's Bazar.
The stamp duty was payable against registration of certificates, including share pledge agreement, offshore debenture and security assignment agreement.
Of the total amount, the IRD exempted Tk 44 million for transferring share pledge agreement, Tk 26 million offshore debentures, and Tk 26 million security assignment agreement.
