Raise tax-free income limit to Tk4 lakh: Businesses ask NBR
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has proposed raising the tax-free income limit to Tk4 lakh from the existing Tk3 lakh in the next fiscal year to protect low-income people from inflation.
FBCCI President Md Jashim Uddin placed the proposal at the 43rd budget consultative meeting with the National Board of Revenue (NBR) on Thursday.
Considering the overall economic situation, inflation and rising costs of living, the organisation feels it has become difficult for people with low incomes to pay taxes and for this, it is necessary to increase the tax-free income limit by Tk1 lakh.
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The tax-free income ceiling for women and senior citizens, outside regular individual taxpayers, was also recommended to be raised from the existing Tk3.5 lakh to Tk4.5 lakh.
The meeting was presided over by NBR Chairman Abu Rahmatul Muneem with Finance Minister AHM Mustafa Kamal in attendance as the chief guest.
