The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has proposed raising the tax-free income threshold for individual taxpayers to Tk5 lakh in the upcoming national budget.
The proposal was made today (29 April) at the Advisory Committee meeting of the National Board of Revenue held at the Pan Pacific Sonargaon Hotel in the capital.
The meeting, jointly organised by the NBR and the FBCCI, was attended by Finance Minister Amir Khosru Mahmud Chowdhury as the chief guest.
Presenting the FBCCI’s proposals, the organization’s administrator Md Abdur Rahim Khan said that considering inflation and the real income situation of low-income groups, the tax-free income threshold for individuals should be set at Tk5 lakh.
He said, “The current tax-free income threshold for individual taxpayers is Tk3.5 lakh.”
He also recommended setting Tk5.5 lakh for senior citizens and women and capping the maximum tax rate at 25%.
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