10 years income tax exemption for solar and wind power producers
To increase the production and consumption of renewable energy in the country, companies producing solar and wind power have been exempted from income tax for 10 years. This exemption has been given conditionally to companies going into production between July 1, 2025 and June 30, 2030.
Chairman of the National Board of Revenue (NBR) today Tuesday. This information was given in a notification signed by Abdur Rahman Khan.
According to the notification, according to sub-section (1) of section 76 of the Income Tax Act-2023, under the Power Generation Policy of Bangladesh in the private sector, tax exemption has been given to companies producing electricity based on renewable energy on the basis of BO. Companies whose commercial production commences between July 1, 2025 and June 30, 2030 will get conditional tax exemption.
100% tax exemption for first 5 years (1st to 5th year) from commencement of commercial production. The next 3 years (6th to 8th) will get 50 percent tax exemption and the next 2 years (9th and 10th) will get 25 percent tax exemption.
The conditions include – compliance with all provisions of the Income Tax Act and fulfillment of all conditions stipulated in the Private Sector Power Generation Policy of Bangladesh. At the same time the companies should be managed according to the system described in the policy.
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