FBCCI proposes raising tax-free income ceiling to Tk 500,000

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has proposed raising the tax-free income threshold for individual taxpayers to Tk 500,000 in the upcoming national budget.

The proposal was presented on Wednesday at a budget consultative meeting of the National Board of Revenue (NBR), held at a city hotel.

The meeting was jointly organised by the NBR and FBCCI. Finance Minister Amir Khosru Mahmud Chowdhury attended the event as the chief guest, while Commerce Minister Abdul Muktadir was also present as a special guest.

The session was conducted by FBCCI Administrator Md Abdur Rahim Khan and chaired by NBR Chairman Abdur Rahman Khan.

Presenting FBCCI’s proposals, the administrator said that, considering inflation and the real income of low-income groups, the tax-free income threshold should be set at Tk 500,000. He also recommended raising the threshold to Tk 550,000 for senior citizens and women, and lowering the maximum tax rate to 25 per cent.

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