5.0pc tax rebate for appointing differently-abled persons

Published: June 16, 2019 20:30:12 | Updated: June 16, 2019 21:12:38

The proposed national budget has kept a provision of giving 5.0 per cent rebate on total tax if the taxpayer appoints at least 10 per cent of total work force of people with differently able.

Finance Minister AHM Mustafa Kamal in the budget speech regarding the rebate has said the government is doing its best to protect the interest of the people with differently able and want to reflect this principle in taxation as well.

According to BSS, a study shows 10 per cent of country’s population has some sort of disability and considering this fact, the rebate has been proposed.

Besides, for ensuring services to the persons with differently able, imposition of 5 per cent additional tax on a medical service provider who fails to ensure special accessibility for physically challenged persons was introduced last year.

This year, the finance minister proposed to extend its scope by imposing the application of this provision on schools, colleges, universities and NGOs.

However, this provision shall come into force from the assessment year 2020-21 for schools, colleges, universities and NGOs so that they have enough time for the installation of necessary facilities for this purpose.

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