FBCCI proposes tax free income limit at Tk 3.5 lakh

K M A Hasnat: The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has proposed increasing the individual tax free income limit to TK 3.50 lakh from the existing Taka 2.5 lakh in the upcoming budget of 2018-2019 fiscal year.

The organisation also recommended to reset the existing income tax rate in the budget.

Sources said an FBCCI delegation led by its president Shafiul Islam Mohiuddin met Finance Minister Abul Maal Abdul Muhith before he left the country for the USto attend the World Bank (WB) and the IMF Annual Summit.

The delegation placed some recommendations to the Finance Minister related to income tax resetting in the upcoming budget for 2018-2019 fiscal year.

The Budget Division of the Ministry of Finance is currently working for budget preparation. The recommendations made by FBCCI will be placed to Finance Minister in the coming budget.

 

risingbd/Dhaka/April 29, 2018/Hasnat/A K Azad