The Supreme Court has ordered private universities in Bangladesh to pay a 15 percent tax on their earnings. An Appellate Division bench led by Justice Borhanuddin issued the order on Tuesday. On Jun 28, 2007, the National Board of Revenue issued a notice stating that private universities recognised by the University Grants Commission must pay a 15 percent tax on their income. The NBR also issued another notice on Jul 1, 2010, which said that the tax payable on the income generated by private universities, private medical colleges, private dental colleges, private engineering colleges, or any other private institution engaged in teaching would be reduced to 15 percent.

Source: bd News24 February 27, 2024 12:16 UTC