Finance Minister AHM Mustafa Kamal has proposed keeping the tax-free income limit for individuals and corporate tax rates unchanged in his maiden budget speech.
The tax-free income limit for individual taxpayers will remain unchanged in the incoming fiscal year, said the minister. “Any increase in the tax exemption threshold will push a “significant” number of taxpayers out of the tax net.
The minister further said: “The taxpayers got habituated with the unchanged rate of tax so we are keeping the rate unchanged.”
The general tax exemption threshold for income tax has been Tk 250,000 for the last few years. The ceiling has been Tk 300,000 for female taxpayers.