Economic Reporter :
The Metropolitan Chamber of Commerce and Industry (MCCI) has urged the tax authority to raise the ceiling of tax-free income for individual taxpayers to Taka 4.5 lakh from existing Taka 2.5 lakh in the upcoming fiscal year 2018-19.
The MCCI leaders made the proposals at a pre-budget meeting with the National Board of Revenue (NBR) on Sunday. NBR Chairman M Mosharraf Hossain Bhuiyan was present in the meeting.
The trade body said living expenditure has been increased largely but ceiling of individual’s tax-free income was not raised in last three fiscal.
In the written proposal, the MCCI suggested for raising ceiling of tax-free income of women and senior citizen to 5 lakh from 3 lakh while Taka 6 lakh from 4 lakh for person with differently abled and their parent as well as Taka 7 lakh from 4.25 lakh for the war-wounded freedom fighter.
MCCI also proposed to cut the maximum tax rate for individuals to 25 percent from 30 per cent.
It also placed demand to decrease corporate tax rate, and proposed to cut corporate tax by 5 percent for public limited company while 2.5 percent for others.
NBR Chairman assured the MCCI leaders to consider their proposal rationally.
The Metropolitan Chamber of Commerce and Industry (MCCI) has urged the tax authority to raise the ceiling of tax-free income for individual taxpayers to Taka 4.5 lakh from existing Taka 2.5 lakh in the upcoming fiscal year 2018-19.
The MCCI leaders made the proposals at a pre-budget meeting with the National Board of Revenue (NBR) on Sunday. NBR Chairman M Mosharraf Hossain Bhuiyan was present in the meeting.
The trade body said living expenditure has been increased largely but ceiling of individual’s tax-free income was not raised in last three fiscal.
In the written proposal, the MCCI suggested for raising ceiling of tax-free income of women and senior citizen to 5 lakh from 3 lakh while Taka 6 lakh from 4 lakh for person with differently abled and their parent as well as Taka 7 lakh from 4.25 lakh for the war-wounded freedom fighter.
MCCI also proposed to cut the maximum tax rate for individuals to 25 percent from 30 per cent.
It also placed demand to decrease corporate tax rate, and proposed to cut corporate tax by 5 percent for public limited company while 2.5 percent for others.
NBR Chairman assured the MCCI leaders to consider their proposal rationally.
