Dhaka, June 2 -- The Foreign Investors Chamber of Commerce and Industry (FICCI) has given a mixed reaction to the national budget for FY2025- 26.

In a statement, FICCI highlighted the budget's commitment to easing burdens on specific sectors and promoting a predictable tax system. The reduction of the source tax for construction companies and essential goods is a pragmatic move that will offer good relief to these vital industries.

The chamber also lauded the decision not to tax dividends received from a Joint Venture by a JV partner, preventing double taxation. Furthermore, FICCI commended the alignment with international best practices by ensuring the Double Taxation Avoidance Agreement takes precedence over the Income Tax Act 2023. ...