Tax rate should be fixed based on company status: Ex-FBCCI president
Former FBCCI president Mir Nasir Hossain has recommended that the company's corporate tax rate be fixed considering if it is listed or a non-listed company.
"The companies listed as capital market are paying 22.5% only but the construction sector tax rate is a bit higher under section-82[C] of the income tax law, which is discriminatory," he said at the 43rd budget consultative meeting with the National Board of Revenue (NBR) on Thursday.
He also requested the National Board of Revenue to take measures to avoid double taxation.
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The Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) has forwarded a set of recommendations at the meeting today, including raising the tax-free income limit to Tk4 lakh from the existing Tk3 lakh in the next fiscal year.
The apex trade body also urged the government to formulate an industry and investment friendly budget.
FBCCI President Md Jashim Uddin presented the proposal for the upcoming budget for 2023-24 fiscal at Pan Pacific Sonargaon Hotel in the capital on Thursday (13 April).
National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem presided over the meeting.
Finance Minister AHM Mustafa Kamal attended the event as the chief guest.
