DHAKA, Dhaka Chamber of Commerce and Industry (DCCI)
today made proposal to raise the ceiling of tax-free income to Taka 3 lakh
from the existing Taka 2.5 lakh in the next fiscal budget.
It also placed recommendation to cut corporate tax rate by 5 percent in
the upcoming national budget.
DCCI President Osama Taseer and other leaders of the trade body at a pre-
budget meeting with the National Board of Revenue (NBR) Chairman Md Mosharraf
Hossain Bhuiyan tabled those proposals at NBR auditorium.
He laid emphasis on the business and investment friendly automated
taxation system to attain the desired 8.5 percent GDP growth.
Osama Taseer proposed 25 percent corporate tax for non-listed companies
and 15 percent corporate tax for listed companies. He suggested for bringing
service sector under tax net, as at present only 2 lakh people are submitting
income tax return.
He also proposed for VAT free annual turnover of Taka 50 lakh and
requested to keep package VAT system in the next budget. Taseer made
recommendation for 5 percent source tax on the interest rate of current
account which is 10-15 percent now.
NBR Chairman said government has reduced corporate tax rate in the last
budget and would reduce it gradually, mentioning that corporate tax rate is
quite lower in Bangladesh than many other countries.
Mosharraf Hossain Bhuiyan said every year to meet up the increased revenue
target NBR has to depend on its existing tax payers, but it (NBR) is
planning to open window in all Upazila level to widen tax net.
DCCI Senior Vice President Waqar Ahmed Choudhury, Vice President Imran
Ahmed, Directors Deen Mohammed, Enamul Haque Patwary, Hossain A Sikder, K M N
Manjurul Hoque, Eng Md Al Amin, Md Rashedul Karim Munna, Mohammad
Bashiruddin, and S M Zillur Rahman also spoke.
Source: Bangladesh Sangbad Sangstha (BSS)