AMA Muhith said on Thursday there was little merit to claims that the corporate tax rate is ‘very high’ in Bangladesh. The tax rate for publicly traded companies is 25 percent, close to the global average of 24.29 percent and lower in comparison to various other regions, he said. The 35 percent tax rate for non-publicly traded companies should be maintained to encourage them to list on the stock exchange. A small number of sectors, including non-listed banks, non-listed mobile operators and cigarette manufacturers, pay above 40 percent corporate tax, but this will be gradually reduced. The unchanged tax rate would bring stability to revenue collection in the following year, Muhith said.

Source: bd News24 June 01, 2017 11:03 UTC