Dhaka, Bangladesh (BBN)-The Bangladesh government kept the tax-free income ceiling for individual taxpayers unchanged at BDT 2.5 lakh in the fiscal 2016-17.
Finance Minister AMA Muhith disclosed it when he was placing the BDT 3.40 trillion national budget for the FY 17 at the National Parliament in Dhaka on Thursday.
“Last year, the tax-exempted income-threshold for individual tax payers was BDT 2.50 lakh and there was an opportunity to change this threshold for various types of taxpayers. In the next year, I propose not to bring any change in these tax rates,” Muhith said in his budget speech.
The tax exemption ceiling for women and senior citizen aged 65 years or above is BDT 3 lakh, person with disability BDT 3.75 lakh and war-wounded gazetted freedom fighters BDT 4.25 lakh.
Taxpayer, who has a taxable income, and belongs to any of the city corporations of Dhaka North, Dhaka South, or Chittagong is currently paying BDT 5,000 as minimum tax.
It is BDT 4,000 for taxpayers from other city corporations. And the rest of the taxpayers in the country are paying Tk 3,000 as minimum tax.
“I propose these rates to remain the same for the next year as well,” said the finance minister.