DCCI for lowering corporate tax rate by 2.5 percentage points
The Dhaka Chamber of Commerce and Industry (DCCI) today urged the National Board of Revenue (NBR) to cut the corporate tax for listed and non-listed companies by 2.5 percentage points in the next fiscal year.
Right now, the corporate tax rates for the listed and non-listed companies are 22.5 per cent and 30 per cent respectively.
"If the government cuts the corporate tax rate, it will boost local and foreign investment," said DCCI President Rizwan Rahman said while placing budget proposals for the next fiscal year to NBR Chairman Abu Hena Md Rahmatul Muneem.
Rahman also proposed slashing tax on income of corporate dividend from the existing 20 per cent to 10 per cent.
He said it will encourage the local investors to re-invest as well as boost efficiency in the stock market.
Currently, businesses that have an annual turnover of TK 3 crore are exempted for value added tax.