Bangladesh top trade body FBCCI has urged the government to increase tax-free income ceiling for individual taxpayers to Tk3,25,000. The apex trade body also requested the government to reduce corporate tax rate, so it is made equivalent with the neighbouring countries. The FBCCI suggested corporate tax rate at 22.5% from existing 25% for publicly traded companies, reads the proposal. For non-publicly traded companies, the trade body recommends revenue authorities reduce the rate at 30% for manufacturing companies while 32.5% for non-manufacturing companies from the existing 35%. For merchant banks, FBCCI proposed 35% tax from existing 37.5%, while 37.5% corporate tax for publicly traded companies from existing 40% and 40% for non-publicly traded companies instead of 42.5%, according to the proposal.

Source: Dhaka Tribune April 29, 2017 18:56 UTC