BUDGET 2013~14 (TAX RATE)

BANGLADESH BUDGET 2013~14


Individual Tax Rates and Income Slabs:

On 1st Tk. 2,20,000 of taxable income      Tax Rate: Nil
On next Tk. 3,00,000 of taxable income    Tax Rate:10%
On next Tk. 4,00,000 of taxable income    Tax Rates:15%
On next Tk. 3,00,000 of taxable income    Tax Rates: 20%
On the balance of taxable income               Tax Rates 25%

Minimum Tax for Individual Taxpayers Based on Location:
City Corporation Area          Tk. 3,000.-
Paurashava at District Town  Tk. 2,000.-
Upazillas                               Tk. 1,000.-

Tax Rebate on Investment for Individual:
Investment Ceiling in Taka 1.50 Crore
Investment Ceiling as percentage of total income -30%
Percentage of Tax Rebate -15%

Income Tax for Salaried Individual:
Income Tax Return                                             -2 pages 
Adjustment of Tax Payable on Salary Income     -Adjustable
with other tax 
(Deducted/Collected at Source) 
Tax -exempted House Rent allowance for             Tk. 240,000.-
Salaried Taxpayers
Tax -exempted Conveyance Allowance                 Tk. 30,000.-

Tax Rate for Company:
 Publicly Traded Company                       Rate 27.50%(Subject to Certain Conditions)

Non-Publicly Traded Company                Rate 37.50%

Bank, Insurance and Financial Institution  Rate 42.50%
(Other than Merchant Bank)

Merchant Bank                                        Rate 37.50%

Publicly Traded Cigarette Mfc. Co.          Rate 40.00%

Non Publicly Traded Cigarette Mfc. Co.  Rate 45.00%

Publicly  Traded Mobile Phone Co.          Rate 40.00%

Non Publicly Traded Mobile Phone Co.   Rate 45.00%

Dividend Income                                      Rate 20.00%

Proposal of Capital Market:
Tax deductible at source on the premium over face value   - Nil
of share of a Company.
Tax deductible at source on bond sale                               - Nil
Tax rebate on the investment in Private Mutual fund           - 15%
Tax exempted dividend income threshold                           - 10,000.-