Earlier this year the Bangladeshi government enacted a 15-year tax holiday for private power generation companies; now it has added further inducements.
The tax break applies to private companies that start new power production facilities up to June 2012.
The new rules include several years' tax exemption for foreign employees working on exempted projects, and the power companies themselves will be exempt from the 10% withholding tax that would normally apply to interest paid on foreign loans taken to finance their projects. They will also be exempt from other withholding taxes on bought-in foreign expertise.
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