Bring corporate tax down to 10-15% for newspapers: Editors to finance minister

FY24 Budget

Editors yesterday urged the government to bring down the corporate tax for newspapers to 10-15 per cent from the fiscal year of 2022-23 to help the print media survive amid rising costs.

Currently, the newspaper industry has to pay 30 per cent corporate tax.

The editors also demanded a reduction of the tax deducted at source to 2 per cent from the present 4 per cent and the lifting of 5 per cent customs duty on newsprint imports.

They also called for the removal of 5 per cent advance income tax during the imports of newsprint.

They made the appeal at a virtual meeting with Finance Minister AHM Mustafa Kamal, organised by the finance ministry ahead of the placement of the budget for the upcoming fiscal year.

Prothom Alo Editor Matiur Rahman, Chief Editor of Daily Amader Orthoneeti Nayeemul Islam Khan, Bangladesh Pratidin Editor Naem Nizam, Founder Director & Head of News at Channel i Shykh Seraj, Financial Express Editor Shamsul Huq Zahid and Editor Toufique Imrose Khalidi were present, among others.

Abdur Rouf Talukder, senior secretary of the finance ministry, moderated the session.

At the meeting, Naem Nizam said the newspaper industry in Bangladesh is passing a difficult period. Yet, newspapers have to count 30 per cent corporate income