The Metropolitan Chamber of Commerce and Industry (MCCI) has urged the government to further reduce corporate tax rate in the budget for 2022-23 fiscal year, saying that the existing rate still remains higher than other South Asian neighbours.
MCCI made the call at a pre-budget discussion with the officials of the National Board of Revenue (NBR) at its office in Dhaka on Wednesday.
MCCI President Md Saiful Islam said the corporate tax rate has been brought down by only 5 per cent (from 35 per cent to 30 per cent) in the past two years.
“But compared to neighbouring countries, the figure is still too high in Bangladesh. Therefore, the rate should be brought down further,” he added.
In the meeting, MCCI leaders also placed a budget proposal for the upcoming fiscal to NBR.
Meanwhile, NBR Chairman Abu Hena Md Rahmatul Muneem pointed out that there is a logical reason to reduce the existing corporate tax rate.
“However, we have to consider a lot of things regarding revenue collection,” he added.
