Withdraw minimum tax on mobile phone operators: FBCCI
The Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) on Thursday called on the government to repeal the 2% minimum tax imposed on mobile phone operators, stating that it contradicts the spirit of the income tax law.
The FBCCI argued that the income tax should only be paid on income, not sales. Under the current system, a company is required to pay tax even when it is suffering losses. As a result, the company must pay taxes from its capital, which hinders its ability to expand, the FBCCI said in its budget recommendations.
The apex trade body requested the NBR to withdraw the minimum tax aiming to create a more business-friendly environment that encourages growth and development.
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The FBCCI believes that this change will have a positive impact on the mobile phone industry, as well as other businesses in the country.
