Dhaka, Bangladesh (BBN) – Association of Bankers, Bangladesh (ABB) has proposed the government to cut corporate tax rate to 40 per cent from the existing 42.5 per cent as it is the highest in the world.
The ABB also demanded that the income of banks from share market be considered as capital gain in the next budget for fiscal 2011-2012.
The association leaders proposed these in a pre-budget meeting with the National Board of Revenue (NBR), chaired by NBR chairman Nasiruddin Ahmed.
ABB Chairman K Mahmood Sattar, Managing Director (MD) and Chief Executive Officer (CEO) of National Credit and Commerce (NCC) Bank Limited Mohammed Nurul Amin and MD and CEO of Pubali Bank Helal Ahmed Chowdhury attended the meeting.
The ABB also suggested the government to ease the tax identification number (TIN) issuance system, raise the ceiling for tax-free income on maintenance to BDT 30,000 from the existing BDT 2,000, not to cut tax of statutory reserve and provide tax benefit on income of zero coupon bond for banks and financial institutions.
NBR member Aminur Rahman has urged the association to check corrupt practices of some banks that are concealing actual salary information of employees by providing cash amount in addition to recorded salaries.
BBN/SSR/AD-14Apr11-4:03 pm (BST)
