Written by The Banking Post
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has proposed raising the tax-free income ceiling for individual taxpayers to Tk 500,000 in the upcoming national budget, citing inflationary pressure and shrinking real incomes.
The proposal was placed on Wednesday at a budget consultation meeting organised jointly by the National Board of Revenue (NBR) and FBCCI at a city hotel.
Presenting the recommendations, FBCCI Administrator Md Abdur Rahim Khan said the current tax-free threshold should be revised upward to provide relief to lower-income earners affected by rising living costs.
He also proposed a higher tax-free limit of Tk 550,000 for women and senior citizens.
In addition, the country’s apex trade body recommended cutting the highest individual income tax rate to 25 per cent in a move aimed at making the tax structure more business-friendly and encouraging compliance.
Finance Minister Amir Khosru Mahmud Chowdhury attended the meeting as chief guest, while Commerce Minister Abdul Muktadir joined as special guest. The session was chaired by NBR Chairman Abdur Rahman Khan.
