Business Desk :
Shippers’ Council of Bangladesh (SCB) urged the government to reduce newly imposed increased city corporation tax and trade licence fees as it believes that the move will increase cost of doing business, says a press release.
SCB criticizes the decision of the government for increasing above tax according to the gazette notification issued on 2 March, 2015 by the Ministry of LGRD.
According to the gazette, city corporation tax will be increased to 27% from 12% on yearly basis. City Corporation Tax rate for limited companies will be increased up to Tk.5,000 yearly. Importers have to pay tax Tk.3,000 instead of Tk.1,000 and exporters have to pay tax Tk.3,000 instead of Tk.500. Trade licence fees went up to Tk.5,000 from Tk.2,000 earlier. SCB thinks that before increasing the tax City Corporation should discussed the matter with the concerned business organizations.
In this regard SCB Chairman Md Rezaul Karim thinks that the businessmen in recent past have suffered a remarkable loss in their businesses due to political unrest and violence. Still the businessmen could not minimize that loss. In view of this, he urges that the rate of city corporation tax and trade licence fee should be fixed as it was before.
The city dwellers are deprived of modern and improved municipal facilities. So, before raising the municipal tax, government should ensure enhanced urban facilities to the city dwellers, the chairman said.
Shippers’ Council of Bangladesh (SCB) urged the government to reduce newly imposed increased city corporation tax and trade licence fees as it believes that the move will increase cost of doing business, says a press release.
SCB criticizes the decision of the government for increasing above tax according to the gazette notification issued on 2 March, 2015 by the Ministry of LGRD.
According to the gazette, city corporation tax will be increased to 27% from 12% on yearly basis. City Corporation Tax rate for limited companies will be increased up to Tk.5,000 yearly. Importers have to pay tax Tk.3,000 instead of Tk.1,000 and exporters have to pay tax Tk.3,000 instead of Tk.500. Trade licence fees went up to Tk.5,000 from Tk.2,000 earlier. SCB thinks that before increasing the tax City Corporation should discussed the matter with the concerned business organizations.
In this regard SCB Chairman Md Rezaul Karim thinks that the businessmen in recent past have suffered a remarkable loss in their businesses due to political unrest and violence. Still the businessmen could not minimize that loss. In view of this, he urges that the rate of city corporation tax and trade licence fee should be fixed as it was before.
The city dwellers are deprived of modern and improved municipal facilities. So, before raising the municipal tax, government should ensure enhanced urban facilities to the city dwellers, the chairman said.
