Corporate tax remain unchanged in Muhith’s budget for FY 2016-17

Corporate tax rates will remain unchanged in the in the new budget proposed by Finance Minister AMA Muhith in Parliament.

Presenting a Tk 3.41 trillion budget on Thursday, he retained the previous Tk 250,000 ceiling for individual tax payers. 

For company tax, he said: “The tax rates in Bangladesh have been at a very rational level and as such I propose these rates to remain the same.”

Listed companies currently pay a tax of 25 percent with the exception of banks, insurance firms, cigarette manufacturers and mobile phone operators. 

Mobile phone operators pay a tax of 40 percent. Banks, insurance and non-banking financial institutions are also taxed at 40 percent, if listed on the stock market. Those that are not, pay 42.50 percent.

Other non-public trading companies pay 35 percent tax.